The natural rate of unemployment can change over time. Predict how you think the natural rate of unemployment will change during your lifetime. Explain how you arrived at your conclusion.
What will be an ideal response?
Answers to this question will vary but should make a prediction about whether the
natural rate of unemployment will increase, decrease, or remain the same, as well as
provide supporting evidence for why that change will occur. For example, students may
argue that the natural rate of unemployment will decrease as technology reduces
frictional unemployment by allowing employers and workers to make skills matches much more quickly. They also might argue that the natural rate of unemployment will
increase in the short-term as technology creates a greater divide between skilled and
low-skilled workers but that this divide will diminish over the long term, allowing the
natural rate of unemployment to fall.
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The poverty rate for African Americans is:
A. greater than for any other racial or ethnic group. B. below that for whites. C. considerably lower than that for Hispanics. D. below that for persons 65 years of age or older.
Other things being equal, if energy prices rise in a country, then there would be
A. demand-pull inflation. B. more production and a lower price level. C. cost-push deflation. D. cost-push inflation.
Refer to Table 11-3. The table above refers to the relationship between the quantity of workers employed and the number of cardboard boxes produced per day by Manny's House of Boxes. The capital used to produce the boxes is fixed
Diminishing returns to labor are first observed in this example after Manny hires the ________ worker. A) second B) third C) fourth D) fifth
Assuming the firm in the graph shown is producing Q1 and charging P3 in the long run, then the deadweight loss is
These are the cost and revenue curves associated with a firm.
A. Area A.
B. Area B.
C. Area C.
D. There is no deadweight loss.