The natural rate of unemployment (i) is the economy's desirable level of unemployment. (ii) cannot be affected by economic policy. (iii) is typically constant over time
a. (i) and (ii) only
b. (iii) only
c. (i), (ii), and (iii)
d. None of the above is correct.
d
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Assume that the economy is in a recession and consumers are expecting a fall in their income levels. This will cause a(n):
A) left shift in the market demand for all goods. B) right shift in the market demand for all goods. C) increase in the total quantity demanded of all goods. D) decrease in the total quantity demanded of all goods.
Explain the difference between the following two expressions: Y = C(Yd) + I + G + CA(EP /P, Yd) and Y = C + I +G + CA
What will be an ideal response?
A member of the labor force is defined as someone who is _______ .
a.already employed or actively seeking work. b.who is above the age of 16. c.who is employed. d.who is employed on a part-time basis. e.already employed on a full-time basis.
If Project A has a cost of $5 and provides a benefit of $10, and Project B has a cost of $2 and provides a benefit of $4, then switching from Project A to Project B:
A) increases the net benefit by $3. B) increases the net benefit by $6. C) decreases the net benefit by $6. D) decreases the net benefit by $3.