The goal of maximum sustainable employment is roughly equivalent to achieving ________
A) the natural rate of unemployment
B) an inflation target that is slightly above zero
C) the elimination of frictional and structural unemployment
D) all of the above
E) none of the above
A
You might also like to view...
In the Keynesian model deviations of output from potential are caused by:
A. fluctuations in aggregate spending. B. fluctuations in average labor productivity. C. changing asset prices. D. technological change.
Suppose the price of coffee is $3, the price of a bagel is $2 and a person's budget is $40. The budget line's equation is
A) $2/Qbagel + $3/Qcoffee = $40. B) $2(Qbagel) + $3(Qcoffee) = $40. C) Qbagel /$2 + Qcoffee /$3 = $40. D) Qbagel + Qcoffee = $40/($3 + $2).
Profit maximization implies that firms will want to ________
A) accumulate capital while the MPK is greater than the real wage B) accumulate capital while the MPK is greater than the rental price of capital C) accumulate labor while the MPK is greater than the rental price of capital D) accumulate labor while the MPK is greater than the real wage E) none of the above
In the kinked-demand model of noncollusive oligopoly, each firm thinks the demand curve below the going price is:
A. more elastic than the demand curve above the going price. B. less elastic than the demand curve above the going price. C. less elastic than the marginal revenue curve above the going price. D. more elastic than the marginal revenue curve above the going price.