At the natural rate of unemployment, structural unemployment is zero.
Answer the following statement true (T) or false (F)
False
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When tariffs on imports are eliminated, everyone benefits.
Answer the following statement true (T) or false (F)
Neutral technological progress occurs when
a. higher output levels are achieved with the same quantity and combinations of factor inputs. b. higher output levels are achieved by more capital intensive methods. d. higher output levels are achieved by more labor intensive methods. e. higher output levels are achieved.
Which of the following would be not considered a common pool resource?
a. a lake where anyone can fish b. an oyster bed that anyone can take oysters from c. a congested public park d. a public pasture where anyone can graze their cattle e. a strip mine owned and operated by a coal-mining company
According to Friedman, in which of the following situations is the economy in long-run equilibrium?
A) The average inflation rate over the past five years is 2 percent and the expected inflation rate is 2 percent. B) The expected economic growth rate is 3 percent and the actual inflation rate is 3 percent. C) The expected economic growth rate is 2 percent and the expected inflation rate is 2 percent. D) The expected inflation rate is 3 percent and the actual inflation rate is 3 percent.