When the economy is at its natural rate of unemployment,
A) it is still experiencing frictional and cyclical unemployment.
B) it is still experiencing structural and cyclical unemployment.
C) it is still experiencing frictional, seasonal, and structural unemployment.
D) it is still experiencing frictional, structural, and cyclical unemployment.
C
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If pizza is measured on the horizontal axis and pretzels are measured on the vertical axis, the slope of the production possibility frontier at a given combination reflects
A) the total cost of producing that combination. B) the total cost of producing that quantity of pizza in terms of pretzels. C) the cost of making the last pizza in terms of pretzels. D) the cost of making the last pretzel in terms of pizza.
Discuss the following views concerning the impact of monetary policy:
a. classicals b. Keynesians c. monetarists d. "modern view"
An example of a non-pecuniary job characteristic is
a. an end-of-the-year bonus. b. salary. c. a comfortable work environment. d. over-time pay.
We say economists are doing positive economics when they
A. try to improve the welfare of all citizens. B. look for regularities and principles in economic life that can help show how the economy works. C. claim that there is no value free social science so articulating one's values is important. D. focus on policies and rhetoric that encourage people to be optimistic about the future.