When the economy is at full employment,
a. there is no unemployment.
b. the amount of cyclical unemployment equals zero.
c. the amount of structural unemployment equals zero.
d. the natural unemployment rate equals zero.
e. the amount of frictional unemployment equals zero.
b
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Figure 11-2
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Which graph in Figure 11-2 best reflects a Keynesian view of the impact of a $500-per-person tax cut?
A. 1 B. 2 C. 3 D. 4
________ is a market structure in which a large number of firms compete vigorously with each other in producing and selling different varieties of a basic product.
A. Monopolistic competition B. Perfect competition C. Monopoly D. Oligopoly
The United States' price system is __________ by both price ceilings and price floors.
A. affected B. efficient C. unaffected D. None of these choices are correct.
One reason the supply of cell phones has increased is:
A. cell phone towers are much more common. B. expectations of the near future are that no landlines will exist. C. consumer preferences for cell phones has increased. D. better technology allows them to be produced more cheaply.