In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced
a. both structural unemployment and the natural rate of unemployment.
b. structural unemployment but not the natural rate of unemployment.
c. both frictional unemployment and the natural rate of unemployment.
d. frictional unemployment but not the natural rate of unemployment.
c
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The supply curve is the same as another curve. What other curve is the same as the supply curve? Why are the curves the same?
What will be an ideal response?
Suppose the price elasticity of demand for your economics textbook is -1 . If the publisher raises the price by 5 percent,
a. revenues will rise 5 percent b. quantity demanded will rise 5 percent c. total revenues will not change d. revenues will fall e. revenues will fall 5 percent
According to Scenario 4-1, country A has net exports of:
a. $18 million. b. $8 million. c. $13 million. d. $9 million. e. $6 million.
Figure 17-1
Which of the following is true about the economy depicted in Figure 17-1?
a.
It is experiencing supply-side inflation.
b.
Policy makers have chosen to fight inflation rather than unemployment.
c.
The increase in aggregate demand has increased prices but not real GDP.
d.
The slope of the aggregate supply curve embodies the trade-off between unemployment and inflation.