At the full-employment equilibrium in the labor market
A) there is no unemployment.
B) there are no job vacancies.
C) there is neither a shortage nor a surplus of labor.
D) the money wage rate equals the real wage rate.
C
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Under fixed exchange rate, the response of an economy to a temporary fall in foreign demand for its exports is
A) the currency appreciates, and output falls. B) the currency depreciates, and output falls. C) the currency remains the same, and output decreases. D) the currency depreciates, and output remains constant. E) the currency appreciates, and output remains the same.
Which of the following statements is not correct?
a. A patent is a way for the government to encourage the production of a good with technology spillovers. b. A tax is a way for the government to reduce the production of a good with a negative externality. c. A tax that accurately reflects social costs produces the socially optimal outcome. d. Government policies cannot improve upon private market outcomes.
The unemployment rate measures the:
a. percentage of the labor force who are not working but looking for work. b. percentage of the labor force who have failed to find work in the last 2 months. c. percentage of working adults lacking proper technical skills. d. percentage of the labor force incapable of productive work.
Unemployment insurance is an example of
A. automatic stabilizer. B. recessionary gap. C. tax D. all of these.