Full employment means which of the following is zero?
a. structural unemployment
b. cyclical unemployment
c. frictional unemployment
d. aggregate unemployment
B
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Which of the following is an exogenous variable in the Three-Sector-Model?
a. Industry risk b. Country risk c. Real risk-free interest rate d. Credit risk e. All of the above are exogenous variables.
In the United States, the federal minimum wage is legislated in nominal terms. This means that
A. the federal minimum wage historically decreases in value during stretches when the minimum wage is not increased. B. unemployed workers collect government assistance equal to the minimum wage. C. employers do not have to pay payroll taxes on wages paid to minimum wage workers. D. the government pays the minimum wage to all local, state, and federal workers. E. the federal minimum wage is indexed for inflation.
The market for buying and selling foreign currencies is often referred to as the market for:
A. foreign exchange. B. loanable funds. C. direct foreign investment. D. international trade.
The pushing-on-a-string analogy makes the point that monetary policy may be better at:
A. controlling demand-pull inflation than cost-push inflation. B. pulling the aggregate demand curve leftward than pushing it rightward. C. pulling the unemployment rate downward than pushing the economic growth rate upward. D. keeping rapid inflation from occurring than reducing it once it has begun.