"Full employment" refers to the situation when there is
A. 100% employment of the labor force.
B. no frictional or structural unemployment.
C. no cyclical unemployment.
D. a 0% unemployment rate.
Answer: C
Economics
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A) lowering real B) lowering nominal C) raising real D) raising nominal
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Maintaining objectivity is easiest in:
A. the art of economics. B. positive economics. C. normative economics. D. subjective economics.
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If a country's economic decisions are made by an individual or small number of individuals, then it has a:
A. capitalist economy. B. free-market economy. C. open economy. D. centralized economy.
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How does the market mechanism distribute income?
What will be an ideal response?
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