People who failed to look for a job are classified as
a. unemployed.
b. underemployed.
c. out of the labor force.
d. part time employed.
c
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The rational expectations hypothesis indicates that a monetary policy designed to alter real Gross Domestic Product (GDP) will fail unless
A) changes in the money supply are completely anticipated. B) labor unions have long-term contracts. C) the government's budget is not in deficit. D) changes in the money supply are unexpected.
Which of the following will not generally be true of a monopolistic competitor operating in the long run?
a. price greater than minimum average total cost b. price equal to average total cost c. marginal revenue equal to marginal cost d. positive economic profits
The Natural rate of unemployment equals
a. The sum of the frictional and structural unemployment rates. b. The sum of the frictional and cyclical unemployment rates. c. The sum of the structural and cyclical unemployment rates. d. None of the above.
Other things the same, an increase in the U.S. real exchange rate makes U.S. goods more expensive relative to foreign goods
a. True b. False Indicate whether the statement is true or false