Use the following choices regarding the various types of unemployment to describe this situation. Tired of the same job, day-in and day-out, Delores quit her job and is looking for more challenging work.
A. frictional unemployment
B. structural unemployment
C. natural unemployment
D. cyclical unemployment
A. frictional unemployment
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Suppose that real GDP grows by 3 percent a year, the quantity of money grows 5 percent a year, and velocity does not change. In the long run, the inflation rate equals
A) 3 percent. B) 5 percent. C) 8 percent. D) 10 percent. E) 2 percent.
Explain why one can write the demand for money as the price level times a function of the interest rate and real income as follows: = PxL (R, Y)
What will be an ideal response?
An increase in the desired stock of housing would be caused by ________
A) an increase in household formation B) higher residential consumption C) a decrease in expected future income D) an increase in home prices
In macroeconomics, the vertical axis in a supply-demand model measures the price level rather than a particular product’s price.
Answer the following statement true (T) or false (F)