If the labor market becomes less efficient so that the unemployed are more slowly matched with jobs, then
A. the natural rate of unemployment will decrease.
B. the natural rate of unemployment will not change.
C. the natural rate of unemployment will increase.
D. the natural rate of unemployment could either increase or decrease.
Answer: C
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Refer to Table 8-4. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $2,100. C) $1,600. D) $1,400.
In market economies, income distribution is always going to be completely equitable
Indicate whether the statement is true or false
Many economists believe that competitive, market economies provide a natural antidote to employer discrimination known as the
Which one of the following statements about tariffs and quotas is correct?
A. Only the tariff produces revenues for the government. B. Only the quota will cause domestic production to increase. C. Only the quota will cause domestic prices paid by consumers to increase. D. Only the quota will cause the quantity of imports to decrease.