When we are at full employment
A. the unemployment rate is 0.
B. the cyclical unemployment rate is 0.
C. the structural unemployment rate is 0.
D. the frictional unemployment rate is 0.
B. the cyclical unemployment rate is 0.
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A model comparing savings and foreign exchange constraints to see which is binding for economic growth is known as a
(a) project appraisal. (b) two gap model. (c) computable general equilibrium. (d) trickle down model. (e) none of the above.
Because of _______________, rental prices for physically similar space can vary widely across locations, & across property types.
Fill in the blank(s) with the appropriate word(s).
Game theory provides tools that are used to model:
A. the behavior of perfectly competitive firms. B. consumer demand. C. strategic interdependencies. D. the cost functions faced by firms.
The major difference between the Keynesian model and the classical theory of employment is that
A. the interest rate will not always equalize savings and investment. B. not everything produced will necessarily be purchased. C. saving and investing are done by different people for different reasons. D. wages and prices are assumed to be flexible downwards.