Full employment is the rate of employment that results when:
a. all the labor resources of the economy are employed full time.
b. cyclical unemployment has reached its maximum.
c. everybody who wants a job can find one.
d. only frictional and structural unemployment are present.
d
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Suppose that the quantity of pizza demanded decreased by 15 percent after an increase in price of 10 percent. What is the price elasticity of demand for pizza?
A) 1.50 B) 0.67 C) -1.50 D) -0.67
In the long-run equilibrium, a firm's price definitely equals its average total cost in
A) both monopoly and monopolistic competition. B) neither monopoly nor monopolistic competition. C) monopoly but not monopolistic competition. D) monopolistic competition but not monopoly.
Economic growth is the key to ending global poverty.
Answer the following statement true (T) or false (F)
The Maastricht rules specified budgetary rules such as meeting deficit and debt targets because:
A) nations that are able to keep spending down will probably have more money left over to pay their Eurozone dues. B) nations that are fiscally sound will not be tempted to inflate their currency to reduce the real burden of their debt. C) if one nation spends more and taxes less, population will tend to emigrate to that nation. D) the ECB is prohibited from lending to nations, that nation may run out of available credit.