An "unemployment spell" is a period during which:
A. an unemployed individual leaves the labor force and then returns.
B. the unemployment rate exceeds 15 percent.
C. an individual is continuously unemployed.
D. the unemployment rate is less than 10 percent.
Answer: C
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A policy of "beggar-thy-neighbor" is a policy that
A) often benefits the home country in the long run. B) often benefits the foreign country in the long run. C) often benefits foreign country in the short run. D) does not often benefits any country in the long run. E) benefits the home country's neighbors in the long run.
Marginal revenue product is essentially the additional revenue generating from selling one additional unit of output
a. True b. False Indicate whether the statement is true or false
Refer to the above figure. How do you describe what is happening as the economy moves from point A to point B?
A. The technology for growing wheat has improved. B. Land that was once used to grow wheat is now being used to graze sheep. C. The economy has acquired new resources that are well suited for producing wool. D. The economy is producing more bread by choosing to produce less wool.
What variables cause the short-run aggregate supply curve to shift? For each variable, identify whether an increase in that variable will cause the short-run aggregate supply curve to shift to the right or to the left
What will be an ideal response?