Suppose the economy is experiencing frictional unemployment of 1 percent, structural unemployment of 3 percent and cyclical unemployment of 4 percent. What is the natural unemployment rate?
A) 5 percent
B) 3 percent
C) 8 percent
D) 7 percent
E) 4 percent
E) 4 percent
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The opportunity cost of attending a movie is the purchase price of a ticket
a. True b. False Indicate whether the statement is true or false
Bobby's neighbor is growing a tree that is blocking Bobby's ocean view. Bobby is considering taking his neighbor to court. This is most likely an example of a:
a. considerate neighbor. b. public good. c. free rider. d. positive externality. e. negative externality.
Which of the following is an example of a normative statement? a. Higher unemployment rates are common among young people
b. Young people should learn how to prepare their own taxes. c. Auto insurance rates are generally lower for younger d. Persons under the age of 30 watch more movies than those over the age of 30.
Static effects are the overall growth in the market and the impact on a company caused by expanding production and by the company's ability to achieve greater economies of scale.
a. true b. false