Which of the following is true?
A. Frictional unemployment implies a lack of available jobs.
B. During a recession, cyclical unemployment will be low.
C. When an economy is at full employment, actual unemployment will be less than the natural rate of unemployment.
D. When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate of unemployment.
Answer: D
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Refer to the figure above. Calculate the revenue earned by the government when it imposes a tariff of $1 on chairs
A) $10 B) $20 C) $30 D) $40
An economy is at full employment when ________
A) the unemployment rate is zero B) there is no frictional unemployment C) the unemployment rate equals the natural unemployment rate D) there is no structural unemployment
Which of the following would cause a debit entry in the U.S. balance of payments?
a. Canadian citizens increase their shopping trips to the United States b. more U.S. citizens vacation in Austria c. Italian citizens stop vacationing in Monte Carlo and go to Miami instead d. the United States sells oil-drilling equipment to Kuwait
The price of one currency in terms of another is the
A) price of gold. B) price of a SDR. C) foreign exchange rate. D) price of foreign stock.