If you are “between jobs,” you are considered to be
a. frictionally unemployed.
b. seasonally unemployed.
c. cyclically unemployed.
d. structurally unemployed.
a. frictionally unemployed.
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Some economists argue that the short-run Phillips curve is not vertical, and that monetary policy can be effective in the short run. Which one of the following is not one of the reasons for this skepticism?
A) Wages and prices may not adjust rapidly enough to keep the short-run Phillips curve vertical. B) Individuals may not be able to use information of Fed Policy to make a reliable forecast of inflation. C) Empirical evidence shows workers and firms have rational expectations. D) Contracts with workers and suppliers may hinder firms' abilities to adjust to price changes.
As their respective names imply, monopoly and monopolistic competition are the most similar of the four market structures
Indicate whether the statement is true or false
If U.S. residents purchase $450 billion of foreign assets and foreigners purchase $575 billion of U.S. assets, then the U.S. has net capital outflows of -$125 billion and a trade deficit of $125 billion
a. True b. False Indicate whether the statement is true or false
If an American construction company built a road in Kuwait, this activity would be
A. excluded from U.S. GNP. B. fully included in U.S. GDP. C. included in U.S. GDP but not in U.S. GNP. D. included in U.S. GNP only for that portion that was attributable to American capital and labor.