The lowest possible unemployment rate that will not cause the inflation rate to increase is called:
A. the nonaccelerating inflation rate of unemployment (NAIRU).
B. the natural rate of unemployment.
C. "full employment."
D. All of these statements are true.
D. All of these statements are true.
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A decrease in the unemployment rate will shift the production possibilities frontier outward from the origin.
Answer the following statement true (T) or false (F)
Other things remaining the same, which of the following is likely to happen if there is a decrease in the price of cars?
A) There will be a decrease in both the wage rate and the employment levels in the petroleum extraction industry. B) There will be an increase in the wage rate and a decrease in the employment levels in the petroleum extraction industry. C) There will be a decrease in the wage rate and an increase in the employment levels in the petroleum extraction industry. D) There will be an increase in both the wage rate and the employment levels in the petroleum extraction industry.
The side effect of an action that increases the well-being of others is called
A. an augmentation. B. an elasticity. C. a passive benefit. D. a positive externality.
An ____________ identifies all the combinations of capital and labor that can be purchased at a given total cost.
Fill in the blank(s) with the appropriate word(s).