An individual who voluntarily leaves one job and spends a period of time seeking another is considered:
a. frictionally unemployed.
b. cyclically unemployed
c. structurally unemployed.
d. seasonally unemployed.
a
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Demand-pull inflation persists because of
A) continuing increases in government expenditures. B) continuing increases in the quantity of money. C) continuing increases in the real wage rate. D) continuing decreases in the money wage rate. E) continuing increases in aggregate supply.
Economic profit is another name for accounting profit
a. True b. False
The "Got Milk?" advertising campaign is a good example of
A) advertising in a competitive market. B) how advertising in a competitive market does not pay off for a single firm. C) interest groups financed by the industry advertise for the whole industry. D) All of the above.
If the absolute price elasticity of demand is equal to 1 in the short run, then in the long run, other things being equal, the absolute price elasticity of demand will be
A. equal to zero. B. greater than one. C. less than one. D. less than zero.