If the United States' unemployment rate is 5% and the capacity utilization rate is 85-90%, then the economy is at ___________.
Fill in the blank(s) with the appropriate word(s).
full employment
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Based on the figure above, in which quarter or quarters did a trough occur?
A) between 2013, 2nd quarter to 2014, 2nd quarter B) between 2012, 2nd quarter to 2013, 2nd quarter and also between 2014, 2nd quarter to the end of the figure C) in 2013, 2nd quarter D) in 2014, 2nd quarter E) There are no troughs illustrated in the figure.
If the tariff on computers is not changed, but the government then adds hitherto nonexistent tariffs on imported semi-conductor components, then the effective rate of protection in the computer industry will
A) increase. B) decrease. C) remain the same. D) depend on whether computers are PCs or "Supercomputers." E) no longer apply.
Refer to Figure 8.3. Holding other variables constant, a decrease in households' wealth accompanied by an increase in the capital stock will definitely result in
A) an increase in the equilibrium quantity of labor. B) a decrease in the equilibrium quantity of labor. C) an increase in the equilibrium real wage. D) a decrease in the equilibrium real wage.
According to Prisoners'' Dilemma
a. Both parties do not confess b. It is difficult to maintain cooperation among prisoners c. Both a and b d. None of the above