The duration of unemployment tends to rise when
A) business activity goes into a downturn.
B) business activity starts back up after a long period of decline.
C) people leave their jobs rather than lose their jobs.
D) the number of entrants exceeds the number of reentrants.
A
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The government's profit from issuing fiat money is known as
A) seigniorage. B) menu costs. C) commodity profit. D) tax distortions.
Which of the following statements is true about a consumer's optimal decision when indifference curves are concave?
A) Both goods are consumed. B) No goods are consumed. C) Only one of the goods is consumed. D) It occurs at the point of tangency with the budget line.
Underemployed workers include individuals who are employed in tasks that do not fully utilize their productive potential
a. True b. False Indicate whether the statement is true or false
Classical theory advocates ________ policy and Keynesian theory advocates ________ policy
a. fixed wages; flexible wages b. nonintervention; intervention c. active; nonstabilization d. active; passive