The economy is considered to be at full employment when
a. structural unemployment is zero
b. frictional plus structural unemployment is less than the natural rate
c. the leading economic indicators are unchanged for two consecutive quarters
d. the actual rate of unemployment equals the natural rate
e. the unemployment rate is zero
D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________,
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
An autonomous decrease in money demand, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
Which of the following categories of unemployment arises from macroeconomic causes?
a. Temporary unemployment b. Underemployment c. Structural unemployment d. Frictional unemployment e. Cyclical unemployment
Technological advances that increase the marginal product of labor will lead to:
A. an increase in the demand for labor because workers will be more productive. B. no change in demand for labor because the demand for labor depends on the wage. C. a decrease in the demand for labor because the firm won't need as many workers. D. a decrease in the supply of labor because fewer workers can get the job done.