The natural unemployment rate is the unemployment rate that exists when there is no
A) cyclical unemployment.
B) frictional unemployment.
C) structural unemployment.
D) unnecessary unemployment.
E) cyclical or structural unemployment.
A
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During World War II, prisoners of war used ________ as money
A) chocolate B) cigarettes C) bullets D) cowrie shells
Opportunity cost:
a. represents the best alternative sacrificed for a chosen alternative. b. has no relationship to the various alternatives that must be given up when a choice is made in the context of scarcity. c. represents the worst alternative sacrificed for a chosen alternative. d. Represents all possible alternatives sacrificed for a chosen alternative.
If the demand for coffee makers increases,
a. the quantity demanded will decrease. b. equilibrium price will increase and equilibrium quantity will decrease. c. equilibrium price will decrease and equilibrium quantity will increase. d. quantity supplied will increase. e. quantity supplied will decrease.
A small open economy has a current account balance of zero. A rise in the world real interest rate causes
A. a financial account surplus. B. absorption to exceed income. C. net borrowing from abroad. D. a current account surplus.