Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of
a. structural and frictional unemployment.
b. cyclical and frictional unemployment.
c. structural and cyclical unemployment.
d. structural, frictional, and cyclical unemployment.
A
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Budget deficit is the amount by which the government’s expenditures exceed its receipts during a specified period of time, usually a year.
Answer the following statement true (T) or false (F)
A nation will neither export nor import a specific product when its
A. export supply curve lies above its import demand curve. B. export supply curve is upward-sloping. C. domestic price equals the world price. D. import demand curve is downward-sloping.
The demand for slaves was increasing more rapidly in cities than on plantations
Indicate whether the statement is true or false
Being "unequal" is seen as a more serious calamity that being poor
Indicate whether the statement is true or false