Unemployment caused by people entering the job market and people quitting a job just long enough to look for and find another one is called:
A. cyclical unemployment.
B. frictional unemployment.
C. are not counted in the unemployment rate.
D. structural unemployment.
Answer: B
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Aggregate supply increases when ________
A. the price level rises B. the money wage rate falls C. consumption increases D. the money price of oil increases
Why did John Maynard Keynes declare that aggregate demand was "inherently unstable"?
a. "Investment decisions were often guided by unpredictable animal spirits of business expectations." b. "Aggregate demand was measured incorrectly for decades." c. "Aggregate demand is not affected by any government action." d. "An federal expansionary policy is not a proper tool for stimulating the economy."
Which of the following tests is used to compare the Ordinary Least Squares (OLS) estimates and the Weighted Least Squares (WLS) estimates?
A. The White test B. The Hausman test C. The Durbin-Watson test D. The Breusch-Godfrey test
The higher the after-tax wage, the greater the quantity of labor supplied.
Answer the following statement true (T) or false (F)