The average duration of unemployment across the labor force is about
A. 8 weeks.
B. 15 weeks.
C. 25 weeks.
D. 4 weeks.
Answer: B
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Do firms in a perfectly contestable market earn positive economic profit in the long run? Explain
What will be an ideal response?
Refer to Figure 27-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely
A) increase taxes. B) increase oil prices. C) increase government spending. D) lower interest rates. E) decrease government spending.
Cost-push inflation can be shown on an aggregate supply aggregate demand diagram as
A) a rightward shift of the aggregate supply curve with no change in aggregate demand. B) a rightward shift in the aggregate demand curve with no change in aggregate supply. C) a leftward shift in the aggregate demand curve with no change in aggregate supply. D) a leftward shift in the aggregate supply curve with no change in aggregate demand.
Saving is a(n) ________ and wealth is a(n) ________.
A. asset; liability B. flow; stock C. liability; asset D. stock; flow