Naturally occurring diamonds are an example of
A. land.
B. human capital.
C. labor.
D. physical capital.
Answer: A
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Phillips's research looked at British data on
A) unemployment and inflation. B) unemployment and nominal wage growth. C) inflation and nominal wage growth. D) unemployment and output.
The term "creative destruction" refers to
A) the process by which immigrants build a new life in their country of destination. B) the process by which new jobs are created and old ones destroyed. C) the effects of population growth on the environment. D) All of the above are correct.
What will be the outcome of a government law requiring employers with more than 100 employees to incur additional employee-related costs?
a. raise the cyclical rate of unemployment b. lower the cyclical rate of unemployment c. raise the natural rate of unemployment d. lower the natural rate of unemployment
If the demand for a good is price elastic, then the price elasticity will be
a. equal to one b. equal to zero c. greater than one d. less than one e. less than zero