The natural rate of unemployment is made up of
A) frictional, cyclical, and structural unemployment.
B) frictional and cyclical unemployment.
C) cyclical and structural unemployment.
D) frictional and structural unemployment.
E) seasonal and structural unemployment.
Answer: D
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Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the demand curve for U.S. Dollars ________ and the demand curve for South Korean Won ________
A) shifts rightward; does not shift B) shifts rightward; shifts leftward C) does not shift; shifts leftward D) shifts leftward; shifts rightward
The marginal product of labor is equal to the
A) total product divided by the total number of workers hired. B) increase in the total product that results from hiring one more worker with all other inputs remaining the same. C) slope of the marginal product of labor curve. D) None of the above answers are correct.
As a result of moral hazard
A) both physicians and hospitals order more procedures. B) physicians and hospital administrators have no incentive to raise costs. C) patients increasingly have to worry about the expense of operations and other medical procedures. D) both physicians and hospitals have a financial interest in trying to keep hospital costs down.
In the years immediately prior to 2005 in the U.S.,
A. home prices were rising briskly. B. home prices were falling precipitously. C. bankers were confident that home prices would decrease in 2005. D. home prices were constant.