The natural rate of unemployment
a. is 6 percent.
b. is the long-run average rate of unemployment.
c. is 4 percent.
d. varies between 4 and 6 percent.
B
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The basic difference between macroeconomics and microeconomics is that
What will be an ideal response?
The horizontal intercept of the intertemporal budget constraint is referred to as
A. the future value of present income. B. the future value of lifetime income. C. the present value of lifetime income. D. the current value of future income.
When more firms enter an industry:
A. the amount produced by each of the new firms will be less than the amount produced by each of the original firms. B. the industry supply curve will shift right. C. the industry supply curve will shift left. D. the amount produced by each of the new firms will be greater than the amount produced by each of the original firms.
Which of the following would be a private cost to a cigarette smoker?
A. Cost to the employer of the higher health insurance premiums due to the hiring of a smoker. B. Cost to the employer of the extra effort lost due to the increased missed days of work as a result of smoking. C. Cost to the city of extra park cleanup due to the presence of cigarette butts. D. Price of the pack of cigarettes.