Which type of unemployment leads to a natural rate of unemployment above zero?
A. The natural rate of unemployment is always zero.
B. Frictional unemployment
C. Unemployment of government workers
D. Cyclical unemployment
B. Frictional unemployment
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Last year, after Shirley received a 14 percent pay increase, she increased the quantity of pork chops she purchased by 6 percent. Hence, her income elasticity of demand for pork chops equals
A) 0.43. B) -0.43. C) 2.33. D) -2.33
Starting in 1974, the conventional M1 money demand function began to
A) severely underpredict the demand for money. B) severely overpredict the demand for money. C) predict more precisely the demand for money. D) do none of the above.
Which of these economic changes will shift the short-run aggregate supply curve to the left?
a. A hurricane destroying most of the agricultural land in a country b. The discovery of new oil reserves in a country c. A technological breakthrough increasing construction activities d. An increase in the number of skilled workers
A country sells more goods and services to foreign countries than it buys from them. It has
a. a trade surplus and positive net exports. b. a trade surplus and negative net exports. c. a trade deficit and positive net exports. d. a trade deficit and negative net exports.