The natural rate of unemployment is the rate of unemployment that
A. is an unrealistic goal set by policymakers.
B. occurs when employers find more than one job applicant for each job available.
C. all workers and employers have fully adjusted to any changes in the economy.
D. occurs when all workers find work in the economy.
Answer: C
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Governments choose to pursue industrial policy to:
A. raise tax revenue. B. spur economic growth. C. create publicly owned companies. D. regulate the growth of certain industries.
Why do price levels increase when government adopts fiscal or monetary policy to correct the economy when it faces a recession and high unemployment?
Refer to the above diagram. When output decreases from Q1 and the price level increases from P1, then this change will:
A. be caused by a shift in the aggregate supply curve from AS1 to AS3. B. result in a movement along the aggregate demand curve from e2 to e1. C. be caused by a shift in the aggregate supply curve from AS2 to AS1. D. result in a movement along the aggregate demand curve from e1 to e2.
All of following are commonly considered to be common property EXCEPT
A. pigs raised in a farm. B. spotted owls in the wild. C. fish in an ocean. D. wild salmon in a river.