Cyclical unemployment is a part of the unemployment rate that refers to those workers who are:
a. moving between jobs
b. no longer looking for a job because they are discouraged about their prospects.
c. jobless due to the seasonal nature of their jobs.
d. jobless due to a recession in the economy.
d
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Which of the following occurs when an expansionary gap is closed in the long run by the action of firms? a. Output decreases, and the price level increases
b. Inflation decreases, and unemployment rises. c. Both the equilibrium output and the price level increase. d. Both the equilibrium output and the price level decrease. e. Inflation rises, and unemployment decreases
The "net export effect"
What will be an ideal response?
The No-Good Company produces goods that provide damages to society-at-large. If consumers of No-Good's products fail to take external benefits into account
A. the demand curve will be too far to the right. B. the supply curve will be too far to the left. C. the demand curve will be too far to the left. D. the supply curve will be too far to the right.
A patent
A. is often necessary to motivate inventions. B. is never sought for inventions anymore. C. is better for a writer of books than it is for an inventor of medicines. D. makes inventing the good less appealing.