All of the following could be used to support the argument that the natural rate of unemployment has fallen in the last ten years except
A. the proportion of young people in the labor force is shrinking.
B. because the adult population in prison has doubled since 1985, many people who would normally be counted as unemployed are behind bars.
C. workers are more insecure because of numerous plant closings and corporate downsizing, and as a result are less likely to quit their jobs to look for work elsewhere.
D. unemployment insurance has become more generous in the last ten years.
D. unemployment insurance has become more generous in the last ten years.
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Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. As they groom more dogs, the opportunity cost of grooming additional dogs
A) rises. B) falls. C) remains constant. D) depends on the prices being charged.
The nominal interest rate in Autarkia has risen sharply after a change in a government policy. How will this affect the economy if the wages in the country are downwardly rigid?
What will be an ideal response?
Market interest rates are determined by
a. banks b. Wall Street c. the demand for loanable funds d. the supply of loanable funds e. the demand for and supply of loanable funds
The value of total output must equal the value of total income in an economy for all of the following reasons except
A. For the circular nature of spending and income in the economy. B. Government expenditures must equal government revenues. C. One person's expenditures on goods and services is another person's income. D. Income earned is spent on goods and services, which creates additional production.