The natural rate of unemployment worsens if:
a. A nation's resource endowments expand.
b. Labor force mobility worsens.
c. Capital markets become more competitive.
d. None of the above.
e. Actually, the natural rate cannot worsen. That's why it's called "natural."
.B
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When two variables move in the same direction, they are said to be:
A) unitary correlated. B) uncorrelated. C) positively correlated. D) a negatively correlated.
Samuel Slater is most recognized for:
a. inventing the cotton gin. b. inventing the telegraph. c. lobbying the government for the abolition of slavery. d. playing an integral role in developing the first American factory.
Consider the demand functions: A) Qd = 250 - 2P B) Qd = 300 - 3P. Which of the demand functions reflects a higher level of consumer incomes?
A) A B) B C) A and B reflect the same consumer incomes. D) More information is needed.
Workers do not know the safety records at individual firms; they only know industry averages. As a result,
A) each firm tries to outdo each other in making safety improvements. B) each firm has the incentive to be the safest in its industry. C) the equilibrium level of safety is less than optimal. D) the optimal level of safety is achieved.