To operate efficiently, an economy generally "needs" ________ unemployment.
A. cyclical
B. frictional
C. structural
D. seasonal
Answer: B
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What balance of payment account records foreign investment between countries?
What will be an ideal response?
Unregulated markets will tend to
A. rapidly deplete any natural resource. B. naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. C. naturally conserve a depletable resource by pushing up its price at a constant rate every year. D. deplete a resource unless new supplies are found.
The positive view of advertising suggests that it contributes to economic efficiency in the economy.
Answer the following statement true (T) or false (F)
A situation in which a market economy leads to too few or too many resources going to a particular economic activity is known as
A) competition. B) excessive competition. C) destructive competition. D) a market failure.