The actual rate of unemployment will generally
What will be an ideal response?
decrease as an economy enters a boom
You might also like to view...
Which of the following statements would MOST accurately describe government spending between 1970 and 2006?
a. State and local governments spend more on goods and services than the federal government, but the federal government spends more in total than state and local governments. b. As a percentage of GDP, federal government spending on goods and services increased rapidly and by 2006, the federal government spending on goods and services was about twice as high as state spending on goods and services. c. As a percentage of GDP, federal government spending has been significantly reduced, which as forced state and local government total spending to increase dramatically to accommodate these cuts. d. As a percentage of GDP, both federal and state and local government total spending have doubled.
Which of the following is not true of monopolistic competition?
a. There are a large number of buyers and sellers. b. The firms produce differentiated products. c. There exists free entry and exit of firms. d. Each of the firms faces a horizontal demand curve. e. Each of the firms acts as a mini monopoly in the market.
The theory of education that states firms use educational attainment as a way of sorting between high-ability and low-ability workers is called
A small soybean crop in South America would
A. increase the price of soybean meal. B. decrease the price of soybeans. C. increase the crush margin of soybean processors. D. increase the demand for soybean meal.