Which of the following trends would lower the unemployment rate associated with full employment?
a. People become less educated over time.
b. More people are willing to move to find a job.
c. The government spends money to reduce the loss of jobs during a recession.
d. A larger proportion of jobs are seasonal in nature.
e. The federal government increases unemployment benefits.
B
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One of the major benefits to society of monopolistic competition is
A) high prices. B) restricted output. C) product differentiation. D) the excess capacity. E) the marku
Which of the following statements is FALSE?
A. The economy is in equilibrium when saving equals investment. B. The classical school believed we are always tending toward full employment. C. The classical economists' aggregate supply curve is vertical in the short run. D. The economy is in equilibrium when aggregate demand equals aggregate supply.
Studies of mutual fund performance indicate that mutual funds that outperformed the market in one time period usually
A) beat the market in the next time period. B) beat the market in the next two subsequent time periods. C) beat the market in the next three subsequent time periods. D) do not beat the market in the next time period.
Complete the following analogy: A criminal is to a police artist's sketch as the economy is to
a. money b. an economic model c. a resource d. ceteris paribus e. scarcity