Unemployment that has an entirely macroeconomic cause is called
a. frictional unemployment
b. seasonal unemployment
c. structural unemployment
d. cyclical unemployment
e. short-term unemployment
D
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During the 1990s, Japan's economy experienced
A) a tripling of values in the stock market. B) negligible inflation and unemployment rates. C) falling short-term interest rates. D) All of the above.
Aggregate expenditure in the U.S. economy includes spending for U.S. output by
a. households and businesses, but not governments. b. households, businesses, and the federal government, but not state and local governments. c. households, businesses, and all governments except foreign ones. d. households, businesses, and governments, both domestic and foreign.
Camila is a homemaker. Last week, she was busy with her normal household activities. How would the Bureau of Labor Statistics classify her?
a. A member of the civilian labor force who is employed. b. A member of the civilian labor force who is unemployed. c. A member of the civilian labor force who is underemployed. d. A discouraged worker who is not a member of the labor force. e. Not a member of the labor force.
The Coase theorem reminds us that efficiency is all about ________ and says nothing about ________.
A. who gets the most surplus; whether that's a fair outcome B. maximizing total surplus; the distribution of that surplus C. equitably distributing surplus; maximizing that surplus D. None of these statements is true.