Wait unemployment and search unemployment are both types of
A. structural unemployment.
B. cyclical unemployment.
C. frictional unemployment.
D. hidden unemployment.
Answer: C
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A decrease in the interest rates in a country:
A) increases net exports. B) does not affect net exports. C) reduces net exports. D) results in an inflow of capital to the country.
Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. The central bank increases money growth as a result of an unannounced policy change
Under the assumption of adaptive expectations the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
The total amount of consumer surplus and producer surplus is at its maximum when
A) consumers and producers are allowed to trade at the market clearing price. B) the government imposes a price floor that is higher than the market clearing price. C) the government imposes a price ceiling that is lower than the market clearing price. D) free market exchanges do not exist.
Figure 7-5
Which of the following is true for the demand curve depicted in ?
a.
In the $3 to $4 range, the price elasticity of the demand curve equals 1.
b.
At a price of $3, the price elasticity of the demand curve equals approximately -3.3.
c.
In the $3 to $4 range, the demand curve is inelastic.
d.
In the $3 to $4 range, the demand curve is elastic.