Edward is an unmarried man with no children. He loses his job as the manager of a company. After three years of job searching, Edward manages to finally get a job in a small company. Edward's three years of unemployment are most likely to result in _____
a. a loss of lifetime earnings for Edward
b. a loss of human capital for the broader society
c. the deterioration of health for the broader society
d. a loss of social cohesion for the broader society
a
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If nominal wages increase at the same rate as inflation, then the aggregate supply curve will be a horizontal line
a. True b. False Indicate whether the statement is true or false
The longer the actual unemployment rate remains below what had been the natural rate, the more the natural rate itself increases
Indicate whether the statement is true or false
Assets that are able to be moved relatively quickly are known as
a. liquid assets b. hard assets c. corporate assets d. marketable securities e. none of these
In the basic Keynesian model, a decrease in government purchases:
A. increases short-run equilibrium output. B. increases potential output. C. reduces potential output. D. reduces short-run equilibrium output.