When an unemployed person drops out of the labor? force, it
What will be an ideal response?
does not affect the? employment-population ratio.
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An argument against inflation targeting is that
a. the Fed does not completely control inflation. b. it rules out stabilization policy. c. puts too much emphasis on low inflation. d. All of the above
A nation's current location on its production possibilities curve can determine the future location of that nation's production possibilities curve
a. True b. False Indicate whether the statement is true or false
According to the classical economists, which of the following would make prolonged unemployment impossible?
a. Flexible prices, wages, and interest rates. b. Activist government policies. c. Stable investment demand. d. A steadily growing money supply.
Which of the following would most likely cause a firm's cost curve to shift downward?
a. an increase in resource prices b. an increase in government regulations c. a decrease in taxes d. an increase in demand for the firm's product