Which one of the following people is frictionally unemployed? A steel worker who
A) decides to leave the labour force and become a full-time ballet student.
B) becomes discouraged and stops looking for a job.
C) is laid off but expects to be called back soon.
D) loses her job because of technological change.
E) gives up her job because she retires.
C) is laid off but expects to be called back soon.
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Suppose the current account has a value of $500,000 and the financial account has a value of $525,000. The value of the capital account is ________.
A. $25,000 B. -$1,025,000 C. $1,025,000 D. -$25,000
The ________ rate is the rate at which one currency can be traded for another
A) explicit exchange B) nominal exchange C) expected exchange D) real exchange
Real business cycle theory states that the most important cause of business cycles is
A) shocks to the money supply. B) interest rate shocks. C) Federal Reserve policy decisions. D) shocks to tastes and technology.
In the aggregate expenditures model, if aggregate expenditures (AE) are greater than GDP, then:
a. inventory is unchanged. b. inventory is accumulated. c. employment decreases. d. GDP increases.