Full employment means which of the following is zero?
A. structural unemployment
B. cyclical unemployment
C. frictional unemployment
D. aggregate unemployment
Answer: B
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Economic theory indicates that the behavior of
a. government employees differs from the behavior of employees in the private sector because government employees generally disregard their own personal self-interest when making decisions. b. elected public officials differs from the behavior of all other individuals in society because they are not influenced by private interests. c. individuals when they make decisions about who to vote for is very different from the behavior of these same individuals when they make other types of choices. d. voters, government employees, and public officials is best understood by applying the same basic principle we use to predict the behavior of people in the private sector--that incentives matter.
Since the government has been paying out farm subsidies
A. the number of family farms has increased by about 40 percent. B. the number of family farms has increased by 10%. C. the number of family farms has decreased by 10%. D. the number of family farms has decreased by 70 percent.
The population of Parminder’s country has been growing rapidly. What can be assumed about her country?
a. Workers are becoming more educated. b. The average citizen has a higher standard of living. c. It has greater output than before. d. Wages are at subsistence levels.
The combination of high unemployment and high inflation is termed
A. reflation. B. stagflation. C. depression. D. unflation.