Regarding unemployment, the classical model implies that
A) unemployment always exists.
B) unemployment cannot exist.
C) voluntary unemployment is zero, but involuntary unemployment often is fairly high.
D) only voluntary unemployment exists.
D
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In measuring the unemployment rate, part-time workers are ________, and discouraged workers are ________
A) included as employed; included as unemployed B) excluded; included as unemployed C) included as employed; excluded D) excluded; excluded E) included as unemployed if they are involuntary part-time workers; excluded
The IS curve will shift down and to the left when
A) desired saving declines. B) government purchases increase. C) consumption increases. D) the expected future marginal product of capital declines.
Microeconomics explores the allocation of scarce resources from the perspective of small economic units such as consumers and firms
a. True b. False Indicate whether the statement is true or false
Countries with a large GDP must also have a large per-capita GDP
Indicate whether the statement is true or false