The natural rate of unemployment does not include
a. frictional unemployment
b. technological unemployment
c. workers who are unemployed because of a recession
d. people laid off because the demand for their good disappeared, such as blacksmiths
e. people who voluntarily quit their jobs to look for other, more promising jobs
C
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A good or service or a resource is nonrival if
A) it is possible to prevent someone from enjoying its benefits. B) it is not possible to prevent someone from enjoying its benefits. C) its use by one person decreases the quantity available for someone else. D) its use by one person does not decrease the quantity available for someone else.
Today the greatest number of poor are _________ Americans, but the poverty rate for __________ Americans is higher.
A. white; black and Hispanic B. black; white C. black; Hispanic D. white; Hispanic
The height of the market demand curve
a. at any quantity shows the value — to someone — of the last unit of the good consumed b. shows the market value of a good or service c. increases as more of a good or service is consumed d. shows the cost of producing each unit of a good or service e. measures the side payment necessary to achieve economic efficiency
If the Fed decreases reserve requirements, the money supply will increase
a. True b. False Indicate whether the statement is true or false