When the economy is at full? employment, which types of unemployment? remain?
What will be an ideal response?
frictional and structural
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A good that has social costs that exceed private costs has a quantity that is
A) too high. B) too low. C) just right. D) the best society can do.
A practice which might force employers to use more labor than they would otherwise is referred to as
A) wall propping. B) featherbedding. C) mothballing. D) yellow-dogging.
The foreign exchange rate is the
a. current account b. the law of comparative advantage c. the capital account d. the balance of trade e. the price of one currency in terms of another
Which of the following is most likely to increase long-run aggregate supply in an economy?
a. A decrease in the size of the labor force b. A deterioration in the quality of the labor force c. A reduction in the cost of using computers d. An increase in the price level e. An increase in aggregate demand