Recessions and expansions affect most strongly which type of unemployment?
A) frictional unemployment
B) structural unemployment
C) cyclical unemployment
D) seasonal unemployment
C
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If a natural monopolist were to sell at the price where marginal cost equals demand, then it would be earning
a. zero economic profits, like a competitive firm in the long-run. b. negative profits and would not be able to survive. c. positive profits but not would not need to worry about government intervention to regulate it. d. positive profits but would still need to worry about possible government intervention to regulate it.
The opportunity cost of holding currency decreases when
A) income decreases. B) the interest rate on bonds decreases. C) the interest rate on money decreases. D) wealth decreases.
An economic force given relatively free rein by society to work through the market is a:
A. market force. B. price mechanism. C. social force. D. political force.
The cyclically-adjusted budget deficit in an economy is zero. If this economy goes into recession, then the actual government budget will be:
A. Balanced B. In deficit C. In surplus D. Expanding