In terms of unemployment, hysteresis models try to explain why
a. cyclical unemployment is always present.
b. structural unemployment cannot be eradicated.
c. high unemployment persists even after its initial cause is long past.
d. frictional unemployment is the cause of hysteresis.
C
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Which of the following is likely to affect the position and shape of society’s production possibilities frontier?
A. Volume of physical resources B. Level of labor skills C. Level of technology D. Amount of factories on hand E. All of the responses are correct.
Suppose that the CPI in Thailand was 345 in 2015 and 388 in 2016. The inflation rate between those two years was approximately
A) 11.2 percent. B) 14.3 percent. C) 12.5 percent. D) 43 percent.
Which of the following is "crowded out" by higher interest rates that can be the result of expansionary fiscal policy?
A) net exports B) private investment C) consumption D) All of the above are crowded out by higher interest rates.
Which of the following would NOT be expected to increase labor productivity?
A. Technological advance B. The acquisition of more education and training by the labor force C. An increase in the size of the labor force D. The realization of economies of scale