The natural rate of unemployment is equal to the unemployment rate when there is only:
A. structural and frictional unemployment.
B. frictional unemployment.
C. cyclical unemployment.
D. structural and cyclical unemployment.
Answer: A
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A demand-pull inflation consists of ________ shifts in the AD curve and ________ shifts in the AS curve
A) right; no B) leftward; leftward C) leftward; rightward D) rightward; leftward E) rightward; rightward
When a firm is experiencing decreasing marginal costs, it could be because
a. The average costs are increasing b. The firm is going down its learning curve c. The firm's marginal productivity is increasing d. Both C and D
If a tariff is used to protect U.S. jobs,
a. income is transferred from consumers to protected producers. b. national production and income increase. c. national production rises but income decreases. d. the effect is neutral since imports are replaced by domestic goods.
The Coase theorem applies when ______.
a. externalities are increased b. externalities are internalized c. internal costs are externalized d. internal costs are eliminated