Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would
A) definitely signal that the country is in a recession.
B) be considered a natural occurrence in a growing economy.
C) signal that there are more job leavers than job losers.
D) signal that the number of discouraged workers is growing.
B
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The expansionary monetary and fiscal policies of the 1960s resulted in
A) low inflation rates and low rates of unemployment. B) high inflation rates and high rates of unemployment. C) high inflation rates and low rates of unemployment. D) low inflation rates and high rates of unemployment.
The real wage equals the nominal wage ________ the CPI, all times 100
A) plus B) divided by C) minus D) times
A recent purchaser of a bond that agrees to pay an annual nominal amount would hope that interest rates do not rise
Indicate whether the statement is true or false
According to behavioral economists, the human brain frequently employs heuristics because:
A. people have consciously trained their brains to do so. B. these shortcuts minimize errors in decision making. C. they produce more optimal outcomes than do rational calculations of benefits and costs. D. they save energy and time in decision making.