A worker is unemployed if he:
A) has been working part-time and has been actively looking for full-time work.
B) does not have a job and is not actively looking for a job.
C) is working from home and drawing a weekly salary.
D) does not have a job and has been actively looking for one in the prior four weeks and is available for work.
D
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Expectations are adaptive in ________
A) traditional Keynesian models B) the Lucas Model C) new Keynesian theory D) the real business cycle model
The price of a phone call at a pay phone was 5 cents in 1950 and the price of a first-class stamp was 3 cents. In 2014, the pay phone costs 50 cents for a call and a first-class stamp costs 49 cents. We know that
A) both the nominal and the relative price of phone calls increased from 1950 to 2014. B) both the nominal prices of phone calls and first-class stamps increased from 1950 to 2014, but the relative price of stamps increased and the relative price of phone calls decreased from 1950 to 2014. C) all prices increased from 1950 to 2014: Nominal prices of phone calls, first-class stamps, and the relative prices of phone calls and first-class stamps. D) both the nominal prices of phone calls and first-class stamps increased from 1950 to 2014, but we can't tell if the relative prices increased or decreased without more information.
After the adoption of the North American Free Trade Agreement (NAFTA), trade between the United States and Mexico____, and trade between the United States and Canada ____
a. rose; fell b. rose; rose c. fell; fell d. fell; rose
In ____, each competing firm is determined to sell at a price that is lower than the prices of its rivals, often regardless of whether that price covers the pertinent cost.
A. market skimming B. a monopoly C. a price war D. perfect competition