Using the definition of unemployment, which of the following individuals would be unemployed?
A) A full-time student quits school, enters the labor market for the first time, and searches for employment.
B) Because of the increased level of automobile imports, an employee of General Motors is laid off but expects to be called back to work soon.
C) Because of a reduction in the military budget, your next door neighbor loses her job in a plant where nuclear warheads are made and must look for a new job.
D) All of these individuals are unemployed.
D
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An increase in the expected inflation rate
A) leads to a movement downward along the short-run Phillips curve. B) shifts the short-run Phillips curve downward. C) shifts the long-run Phillips curve upward. D) shifts the short-run Phillips curve upward. E) leads to a movement upward along the short-run Phillips curve.
Suppose in the country of Nash that the price of corn is $4 per bushel with no trade allowed. If the world price of corn is $3 per bushel and if Nash allows free trade, will Nash be an importer or an exporter of corn?
Which of the following services have experienced declines in relative prices due to productivity increases?
A. Medical services B. Restaurant meals C. Theatrical performances D. Internet access services
Explain why the willingness to purchase stocks is influenced heavily by shareholders' legal rights with respect to control of the corporation.
What will be an ideal response?