According to the text, economists consider full employment to occur when
A) the sum of frictional unemployment and structural unemployment equals zero.
B) the unemployment rate consists of only frictional and structural unemployment.
C) frictional unemployment equals zero.
D) everyone who wants a job has a job.
B
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Refer to the scenario above. What will be the future value of the deposit after 3 years?
A) $9,822.63 B) $9,964.21 C) $10,077.70 D) $10,220.98
With marginal cost pricing
A) marginal benefits are usually less than marginal cost. B) all opportunity costs will be covered in the short run. C) the price charged is equal to the opportunity cost to society of producing one more unit of the good. D) there cannot be any short-run economic profit.
The South's transportation problem was primarily due to
a. a shortage of mules and horses. b. a limited rail network. c. a shortage of inland shipping. d. the lack of a merchant marine.
The government purchases multiplier is
A. the ratio of the change in the equilibrium level of output to a change in government purchases. B. the ratio of the change in government purchases to the change in the equilibrium level of output. C. the difference between the new and old levels of government purchases. D. the difference between the old equilibrium level of output and the new equilibrium level of output.