The natural rate of unemployment
a. is the least controversial of the Fed's economic barometers
b. has remained constant over periods of varying rates of inflation
c. is defined as the lowest level of unemployment that can be sustained without putting inflationary pressures on the economy
d. in the U.S. is thought to be twice the level of Europe's natural rate of unemployment
e. was a mandate of the Humphrey-Hawkins Act
C
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Marginal revenue equals 0 when:
A) total revenue is increasing. B) total revenue is at its maximum. C) total revenue is decreasing. D) none of the above; marginal revenue is always positive.
Which of the following is most risky at a time of fluctuating interest rates?
A) Commercial paper B) U.S. Treasury bill C) Corporate bond D) Large negotiable bank CD
As of 2009, the U.S. federal deficit had reached nearly __________ of GDP
a. -3.0 percent b. -6.0 percent c. -12.0 percent d. -5.0 percent e. -7.0 percent
Opportunity costs differ among nations primarily because
a. nations employ different currencies. b. nations have different amounts of land, labor skills, capital, and technology. c. nations have different religious, political, and economic institutions. d. the work-leisure preferences of people vary considerably from one nation to another.