Suppose the natural unemployment rate equals 6 percent and the current unemployment rate is 8 percent. We can conclude that
A) there is no structural unemployment.
B) there is no frictional unemployment.
C) there is no cyclical unemployment.
D) full employment is not occurring.
D
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Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages.Number of (Identical) MachinesTotal Packages Wrapped 1110,000213,000315,000
A. 15,000 B. 17,000 C. 16,000 D. 2,000
An increase in the demand for music downloads indicates that more music downloads are
A. demanded because sellers are putting music downloads on sale. B. demanded because music download prices have decreased. C. demanded even if prices of music downloads stay the same. D. demanded because sellers are selling more music downloads.
Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same. Angus values playing the bagpipes at
A) $100. B) $150. C) $250. D) $600.
The supply curve of U.S. dollars in the foreign exchange market is:
a. downward-sloping because it is negatively related to U.S. exports. b. downward-sloping because it is negatively related to U.S. imports. c. upward-sloping because it is positively related to U.S. exports. d. upward-sloping because it is positively related to U.S. imports. e. horizontal because it is unrelated to foreign demand for U.S. goods and services.