The type of unemployment for which the net economic costs are most likely to be small is
A) cyclical unemployment.
B) chronic unemployment.
C) frictional unemployment.
D) structural unemployment.
C
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Answer the following statement(s) true (T) or false (F)
1 A farmer has a comparative advantage at growing wheat if his cost of growing wheat is smaller than his cost of growing any other crop. 2. A farmer has a comparative advantage at growing wheat if his cost of growing wheat is less than the cost of another farmer growing wheat. 3. By definition, someone who has an absolute advantage must also have a comparative advantage. 4. If there are only two activities on which a person can work, and there are two people to do the work, then it is impossible for one person to have a comparative advantage in both activities. 5. By definition, someone who has a comparative advantage in producing soft drinks must also have an absolute advantage in producing soft drinks.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
If it is assumed that there are absolutely no taxes in an economy, then aggregate consumption will be drawn as a function of:
a. disposable income. b. real GDP. c. government expenditure. d. private income. e. government transfers.
Refer to the diagram. In the P 1 to P 2 price range, we can say:
A. that consumer purchases are relatively insensitive to price changes.
B. nothing concerning price elasticity of demand.
C. that demand is inelastic with respect to price.
D. that demand is elastic with respect to price.