If the natural rate of unemployment equals 8 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. 10 percent.
B. 2 percent.
C. -1 percent.
D. -2 percent.
Answer: D
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Under the Bretton Woods system of fixed exchange rates, the price of the U.S. dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.
Answer the following statement true (T) or false (F)
Monopsony means a labor market with a single buyer
a. True b. False Indicate whether the statement is true or false
Other things constant, if the demand for computer scientists rises,
a. the wages of computer scientists will tend to fall. b. employment of computer scientists will tend to rise. c. there will be a surplus of computer scientists. d. there will be a shortage of computer scientists.
The demand for labor is
A. determined by the wage rate. B. determined by the supply of labor. C. its marginal revenue product schedule. D. higher at lower wage rates.