The cyclical unemployment rate is defined as the __________ unemployment rates
A) sum of the structural and the frictional
B) difference between the structural and the frictional
C) difference between the existing (actual) and the natural
D) sum of the natural and the frictional
C
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Refer to the demand and supply equations. What are the equilibrium price and quantity?
What will be an ideal response?
If the smartphone market has only two firms, this market would be a
A. monopoly industry. B. monopolistically competitive industry. C. perfectly competitive industry. D. duopoly industry.
In games:
A. all strategies followed in one particular game should all be similar in order to be successful. B. if one person's strategy is wildly different from those of others, he will typically come in first or last. C. there are several strategies that can achieve a single goal. D. there is only one strategy associated with each outcome.
Suppose your economics professor has an extra copy of textbook that he or she would like to give to a student in the class. Which of the following schemes is the most likely to result in an efficient outcome?
A. Auctioning off the textbook to the highest bidder. B. Letting students take turns using the textbook. C. Randomly selecting one student to receive the textbook. D. Giving the textbook to the student who has the lowest midterm score.