Full employment is the rate of employment that results when:
A. all the labor resources of the economy are employed full time.
B. cyclical unemployment has reached its maximum.
C. everybody who wants a job can find one.
D. only frictional and structural unemployment are present.
Answer: D
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In the American economy, the central figure is the ________________.
Fill in the blank(s) with the appropriate word(s).
Please use a figure to discuss whether or not a devaluation under a fixed exchange rate has the same long-run effect as a proportional increase in the money supply under a floating rate
What will be an ideal response?
Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) Best Treats Introduce and Healthy Snacks Introduce is a Nash equilibrium.
B) Best Treats Do Not Introduce and Healthy Snacks Do Not Introduce is a Nash equilibrium.
C) Best Treats Do Not Introduce and Healthy Snacks Introduce is a Nash equilibrium.
D) There are no Nash equilibria in this game.
Economic rent serves
A) a descriptive function by making some wealthier than others, but serves no allocative function. B) an allocative function by guiding available supplies to the most efficient use. C) only to make the rich richer and the poor poorer. D) no useful function in a modern economy.