If both frictional and structural unemployment increased, the natural rate of unemployment:
a. Would increase
b. Would not change
c. Would decrease
d. Would be affected in an unpredictable manner
a
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The financial crisis and recession which began in 2007
A) was only severe in the United States. B) impacted only low-income countries. C) had a global impact. D) impacted only high-income countries.
The bulk of the exports from developing countries comprises of:
a. manufactured goods. b. finished goods. c. raw materials. d. services.
A fundamental aspect of public goods is that they
A) are just like private goods EXCEPT that everybody wants to consume the same amount. B) have positive externalities. C) are characterized by the principle of rival consumption. D) can be consumed jointly by many people simultaneously.
In the short run, a competitive firm has a marginal product of labor, MPL = 2L-0.25. The output price is $4 per unit and the wage is $5 per hour. The short-run labor demand curve for the firm is
A) 10L-0.25. B) 8L-0.5. C) 4L0.25. D) 8L-0.25.