Why has the U.S. natural rate of unemployment fallen since the early 1990s?
What will be an ideal response?
Researchers have offer a number of explanations: Increased globalization and stronger competition between US and foreign firms may have led to a decrease in monopoly power and a decrease in the markup; The nature of the labor market has changed; the aging of the US population; an increase in the prison population and the increase in the number of workers on disability.
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Refer to the figure below. 
In the figure, a business cycle trough is shown by which point(s)?
A. D only B. B and D C. A and C and E D. A only
Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand greater than one indicates demand:
A. for the good is elastic. B. for the good is inelastic. C. for the good is unitary elastic. D. cannot be determined without more information.
Net exports are calculated as exports minus imports.
Answer the following statement true (T) or false (F)
Which of the following is a recent trend observed in retirement plans in the United States?
A. More employer retirement plans are beginning to switch from defined contribution plans to defined benefit plans. B. Participation in retirement plans is declining as workers begin to rely more on Social Security. C. Many companies have been switching from defined benefit plans to defined contribution plans. D. More Americans are opting out of Social Security because of the low rates of return compared to private alternatives.