The bulk of the decline in the natural rate of unemployment from 1980 to 2000 is because of
A. increased competition from foreign workers.
B. the depreciation of the dollar relative to foreign currencies.
C. a decline in the inflation rate.
D. a decline in the share of young workers in the labor force.
Answer: D
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Assume someone organizes all farms in the nation into a monopoly. What is the monopoly's marginal cost curve?
A) It is a horizontal line at the competitive industry's price. B) It is a vertical line at the formerly competitive industry's quantity. C) It is a vertical line at the monopoly's chosen output level. D) It is the formerly competitive industry's supply curve. E) It is the same as the formally competitive industry's average total cost curve.
What is the long-run effect on the demand curve of a monopolistically competitive firm when more firms enter the market?
A. Demand curve shifts to left. B. Demand curve remains the same. C. Demand curve shifts to right. D. Demand curve become flatter.
Which of the following is both a supply-side and a fiscal policy tool during a recession?
A. Deregulation. B. Welfare programs. C. Liberalized immigration laws. D. Tax cuts.
The investment in human capital through education and training can result in
A. Reduced output per labor hour. B. Greater productivity. C. Less capital-intensive production. D. Low factor mobility.