Cyclical unemployment in an economy will be zero when:
a. there is an expansionary gap in the economy
b. the economy is producing its natural rate of output.
c. there is a recessionary gap in the economy.
d. the actual price level is equal to the expected price level in the economy.
e. the actual price level exceeds the expected price level in the economy.
b
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During the 1990s, Japan's economy experienced
A) a tripling of values in the stock market. B) negligible inflation and unemployment rates. C) falling short-term interest rates. D) All of the above.
Wearing a suit to a job interview is an example of a:
A. positive signal. B. negative signal. C. positive screen. D. negative screen.
Which of the following statements is not correct?
a. The typical monopolistically competitive firm could reduce its average total cost if it produced more output. b. Monopolistically competitive firms advertise in order to increase the elasticity of the demand curve they face. c. Expensive advertising might help consumers if it is a signal that the product is good. d. Brand names acquired at great cost might help consumers by assuring quality.
Which of the following is not a function of money
(a) A unit of account. (b) A standard of deferred payment. (c) A unit of exchange. (d) A store of value.