Estimates for the natural rate of unemployment in the United States range from
A. 2% to 10%.
B. 3% to 8%.
C. 1% to 5%.
D. 4% to 6%.
Answer: D
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Refer to the above figures. A positive externality exists that has not been corrected. Price and quantity will be
A) P1 and Q1. B) P2 and Q2. C) P3 and Q3. D) P4 and Q4.
Tariffs result in a decrease in consumer surplus because: a. the price and the quantity consumed of the protected good increases
b. the price and the quantity consumed of the protected good decreases. c. the price of the protected good increases and quantity consumed decreases. d. the price of the protected good decreases and quantity consumed increases.
To say money is socially defined means that:
A. whatever performs the functions of money extremely well is considered to be money. B. money has been defined in a constitutional amendment. C. society, acting through Congress, specifies what shall be included in the money supply. D. the money supply includes all public and private securities purchased by society.
An exchange-rate regime in which the government intervenes in the market to influence the market-determined exchange rate can be called either a dirty float or a managed float.
Answer the following statement true (T) or false (F)