Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate
a. True
b. False
Indicate whether the statement is true or false
True
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The practice of spreading one's wealth over a variety of different financial investments in order to reduce overall risk is called:
A. diversification. B. following the risk premium. C. allocation. D. risk reservation.
A major advantage of the corporate form of business organization is the limited personal liability of the owners
a. True b. False
Real GDP is:
a. the base year market value of all final goods and services produced domestically during a given period. b. the current year market value of all final goods and services produced domestically during a given period. c. usually greater than nominal GDP d. the current year market value of domestic production of intermediate goods.
In the presence of positive externalities, the market will choose a price that is __________ and produce a quantity that is __________ than the socially optimal price and quantity
a. higher; lower b. lower; lower c. higher; higher d. lower; higher e. impossible to know without more information about market demand and supply