Unemployment that occurs when there are not enough jobs for the number of people in the labor force is referred to as:
A. Frictional unemployment.
B. Structural unemployment.
C. Cyclical unemployment.
D. Seasonal unemployment.
C. Cyclical unemployment.
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Private ownership of rivers and lakes will halt all water pollution
a. True b. False Indicate whether the statement is true or false
Refer to the following graph. The price of capital (r) is $20.
At the optimal combination of inputs for producing 14,000 units of output, what is the marginal rate of technical substitution?
A. 0.80 B. 2.5 C. 1.5 D. 0.67 E. impossible to tell from the graph
The natural rate hypothesis argues that the economy will:
A. self-correct to the natural rate of inflation. B. require expansionary fiscal policy to reach the natural rate of unemployment. C. self-correct to the natural rate of unemployment. D. require expansionary monetary policy to reach the natural rate of unemployment.
If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the demand curve intersects the y axis at a price of ________ and the supply curve intersects the y axis at a price of ________
A. $3; $5 B. $24; $2 C. $20; $4 D. $17; $9