The natural rate of unemployment is the amount of unemployment
A) associated with the business cycle.
B) that exists when the economy goes into recession.
C) equal to frictional plus structural unemployment.
D) that exists when the economy is in an expansion.
C
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A perfectly elastic demand curve has a slope of ________ while a perfectly inelastic demand curve has a slope of ________.
A. 0; infinity B. 1; 0 C. 0; 1 D. infinity; 0
A tax wedge is ________
A) the difference between the tax rate on income and capital gains B) equal to the difference between what people earn before and after taxes are accounted for C) the size of the decrease in labor force participation when labor income is taxed D) the difference between the rate on Treasury securities and the income tax rate
How has the European Union differed from the United States in the treatment of a monopoly? Consider the treatment of Microsoft
What will be an ideal response?
Refer to the diagrams, which pertain to monopolistically competitive firms. Short-run equilibrium entailing economic loss is shown by:
A. diagram a only.
B. diagram b only.
C. diagram c only.
D. both diagrams a and c.