Frictional unemployment is joblessness
a. related to changes in weather and similar factors
b. arising from a mismatch between available jobs and workers' skills
c. resulting from macroeconomic fluctuations
d. that is short-term and is experienced by people who are between jobs
e. that is caused by structural changes in the economy
D
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The economy is in long-run equilibrium when ________ and ________
A) real GDP equals potential GDP; the unemployment rate equals zero B) the output gap equals zero; the inflation rate equals the target inflation rate and the expected inflation rate C) the output gap is at its maximum; the inflation rate equals the target inflation rate and the expected inflation rate D) the unemployment rate equals the natural rate of unemployment; the inflation rate equals zero
A decrease in the price level in an economy is likely to cause a: a. decrease in the real value of dollar-denominated assets. b. downward shift of the aggregate expenditure line
c. decrease in the equilibrium level of output demanded. d. downward movement along the aggregate demand curve. e. leftward shift of the aggregate demand curve.
Which of the following is not a part of M1?
a. Cash in the hands of the public. b. Demand deposits. c. Traveler's checks. d. Money market mutual fund (MMMF) balances. e. Corporate stocks.
Which of the following would be expected if the tariff on foreign-produced shoes were decreased?
a. The domestic price of shoes would fall. b. The supply of foreign shoes to the domestic market would decline, causing shoe prices to rise. c. The number of unemployed workers in the domestic shoe industry would decline. d. The demand for foreign-produced shoes would decrease, causing the price of shoes to increase in other nations.