Almost half of all spells of unemployment end when the unemployed person __________
Fill in the blank(s) with correct word
leaves the labor force (or finds a job)
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Under the model of monopolistic competition, a(an) ________ in the number of firms in the industry will cause ________ to ________
A) increase; average price; decrease B) increase; average price; increase C) increase; average cost; decrease D) decrease; markup; decrease E) increase; marginal cost; decrease
The rule for the optimal use of any input states that
a. when MRP is less than price, profit will increase when more of that resource is utilized. b. when MRP is greater than resource price, profit will increase when more of that resource is utilized. c. when MRP equals price, profit will increase when less of that resource is utilized. d. when MRP is greater than resource price, profit will increase when less of that resource is utilized. e. resources should be used only if MRP exceeds product price.
Stock markets in England were started in the late:
A. Seventeenth century. B. Eighteenth century. C. Sixteenth century. D. Nineteenth century.
Suppose you knew that in one year the unemployment rate will be higher than it currently is, and the inflation rate will be 2 percent. Based on the Phillips curve, what can you assume?
a. The unemployment rate is currently at least 5 percent. b. The inflation rate is currently 2 percent. c. The inflation rate is currently over 2 percent. d. The unemployment rate in one year will be at least 5 percent.