What types of unemployment will still exist when the economy is at the natural rate of unemployment?
A) frictional, structural, and cyclical unemployment
B) frictional and cyclical unemployment only
C) frictional and structural unemployment only
D) structural and cyclical unemployment only
C
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Why do few avocados rot, even though in some seasons of the year far more avocados are harvested than in other seasons of the year?
A) Consumers realize it would be inefficient to let avocados rot. B) Growers vary their advertising efforts with the season of the year. C) Prices fluctuate sharply as supplies increase or decrease. D) The taste for avocados varies proportionately to the supply.
If a good has an external cost, then the marginal private cost curve
A) lies below the marginal social cost curve. B) lies above the marginal social cost curve. C) is negative. D) is the same as the marginal external cost curve.
A company with a strong brand identity:
A. can perpetuate false perceptions of quality or product differences. B. promises consistency to customers. C. conveys to customers an implicit guarantee of a product's quality. D. All of these statements are true.
An increase in the required reserve ratio ____ excess reserves and _____ the money supply.
A. increases; decreases B. decreases; increases C. decreases; decreases D. increases; increases