When the economy is near the natural unemployment rate, most adult males looking for work are experiencing ________ unemployment
A) turnover
B) mismatch
C) cyclically
D) seasonally
B
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The amount of unemployment that an economy normally experiences is called the
a. average rate of unemployment. b. natural rate of unemployment. c. cyclical rate of unemployment. d. typical rate of unemployment.
A quota on imported avocadoes ______________ the price of avocadoes, _____________ consumers' surplus for avocado buyers, _______________ producers' surplus of avocado growers and __________________ tariff revenue. Because the loss to _____________ is more than the gain to ___________________, there is a net loss to society
A) raises; increases; decreases; generates; producers; consumers and government B) lowers; increases; decreases; does not generate; producers; consumers C) raises; increases; decreases; does not generate;consumers; producers and importers D) raises; decreases; increases; generates; consumers; producers and government
What usually happens after an adverse supply shock?
What will be an ideal response?
Implementing a regional free-trade agreement may have an effect in which, due to reduced tariffs, a nation begins to import a product from another member country that it had previously imported from outside the new trade region. This effect is called:
a. trade creation. b. trade diversion. c. reciprocal trade agreements. d. the employment effect of FTAs.