The ________ refers to the amount a household would like to work within a given period at the current wage rate if it could find the work.
A. unconstrained supply of labor
B. labor-force participation rate
C. natural rate of unemployment
D. constrained supply of labor
Answer: A
You might also like to view...
Lower rates of inflation increase planned spending because:
A. the reduction in wealth, resulting from the reduced real value of money, restrains spending. B. the Fed reacts to the lower inflation by lowering interest rates. C. resources are redistributed from high-spending households to low-spending households. D. the prices of domestic goods sold abroad increase (with a constant exchange rate).
Differentiate between a change in demand and a change in quantity demanded
What will be an ideal response?
When aggregate economic activity is declining, the economy is said to be in
A) a contraction. B) an expansion. C) a trough. D) a turning point.
Over the course of the 20th century, _____
a. federal government expenditures have grown less than state and local expenditures b. federal government expenditures have increased substantially as a percentage of GDP c. federal government expenditures remained fairly constant except during wartime d. federal government expenditures have always been higher than the expenditures of state and local governments.