Look at the following data: The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent.
a. 2; 7
b. 2; 8
c. 1; 7
d. 1; 8
Answer: b. 2; 8
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If a nation changes its laws to more actively enforce intellectual property rights, all of the following will most likely take place except
A) more film makers will choose to do business in that country. B) more software companies will choose to export their products to that country. C) foreign investment in that country will increase. D) the black market for intellectual property will become more prosperous in that country.
Monitoring a manager can be difficult if
A) the owner and manager do not have an enforceable contract. B) the owner cannot easily observe the manager's actions. C) the manager doesn't have to use a time clock. D) the board does not have enough outside directors.
Suppose there is a decrease in U.S. income and Mexican income does not change. We would expect to see
A) both the dollar and the peso depreciate. B) both the dollar and the peso appreciate. C) the dollar depreciate and the peso appreciate. D) the dollar appreciate and the peso depreciate.
With respect to the pure monopolist's demand curve, it can be said that:
A. the stronger the barriers to entry, the more elastic is the monopolist's demand curve. B. price exceeds marginal revenue at all outputs greater than 1. C. demand is perfectly inelastic. D. marginal revenue equals price at all outputs.