If the rate at which workers flow from employment into unemployment each period is 6% and the flow out of unemployment occurs at a rate of 69%, then the natural rate of unemployment is
a) 4.14%
b) 6%
c) 8%
d) 6.9%
e) 11.5%
c) 8%
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The choice of a voter to remain uninformed because the marginal cost of obtaining information is greater than the marginal benefit from obtaining knowledge is called:
a. irrational ignorance. b. rational ignorance. c. collective interest. d. choice.
An increase in growth rates will cause: a. an inward shift of an economy's production possibilities curve
b. an outward shift of an economy's production possibilities curve. c. a movement from a point on an economy's production possibilities curve to a point inside the curve. d. an economy's production possibilities curve to slope upward.
As firms gain market share, industries become more competitive
Indicate whether the statement is true or false
Which of the following is not a negative externality associated with driving cars?
a. congestion b. pollution c. repairs d. accidents