Structural unemployment arises when
a. marginal productivity of labor becomes zero.
b. there is a cyclical change in the economy.
c. jobs are eliminated by changes in the economy.
d. people change their jobs.
c
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As more of a good is consumed, the marginal benefit of the good
A) increases. B) decreases. C) remains constant. D) is unpredictable. E) first decreases and then increases.
Suppose the equilibrium real federal funds rate is 3 percent, the target rate of inflation is 3 percent, the current inflation rate is 1 percent, and real GDP is 8 percent below potential real GDP
If the weights for the inflation gap and the output gap are both 1/2, then according to the Taylor rule the federal funds target rate equals A) -3 percent. B) -1 percent. C) 3.5 percent. D) 7 percent.
Bio seeds offers free genetically modified seeds (GMS) to farmers in developing countries the first season. The land accepts only GMS in any other cropping season. So providing free seeds in the first season is a strategic way to
A. enforce price discrimination. B. regulate future demand. C. bundle goods. D. administer a two-part tariff.
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.