The natural rate of unemployment is
A. the unemployment rate when cyclical unemployment is the only type of unemployment.
B. the rate of unemployment associated with long-run equilibrium.
C. zero.
D. the unemployment rate when there is no frictional unemployment.
Answer: B
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When are demanders satisfied and suppliers unsatisfied?
a. Never-neither suppliers nor demanders are ever completely happy with the market price. b. Whenever the market price is above its equilibrium level. c. When the market price is relatively low, because then demanders can buy all they want but suppliers cannot make a profit. d. When rises in supply cause a fall in the equilibrium price of the good.
The labor supply curve represents: a. the relationship between the wage rate and labor productivity
b. the tradeoff between labor and leisure. c. the relationship between the wage rate and the quantity supplied of labor. d. the tradeoff between labor and capital as alternative factors of production.
In the United States, the pollution prevention hierarchy consists of the following
a. source reduction b. reuse/recycling c. cleaner production d. all of the above e. (a) and (b) only
A government using fiscal policy in an attempt to stimulate the economy would do which of the following?
What will be an ideal response?