If there is 3 percent frictional unemployment, 4 percent structural unemployment, and -2 percent cyclical unemployment, then the natural rate of unemployment equals:
A. 5%.
B. 1%.
C. 2%.
D. 7%.
Answer: D
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What will be an ideal response?
A change in demand would be illustrated by
a. a drop in price, which causes people to buy more. b. an increase in price, which causes people to buy less. c. a change in people’s preferences that causes them to buy either more or less than before. d. All of these.
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A. the 1920s B. the 1950s C. the 1960s D. the 1970s
Which statement about oligopolies is true?
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