Unemployment that naturally occurs during the normal workings of an economy as people change jobs and move across the country is called:
A. natural unemployment.
B. frictional unemployment.
C. structural unemployment.
D. cyclical unemployment.
Answer: B
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Refer to Figure 13-2. Ceteris paribus, an increase in the expected price of an important natural resource would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
In the early 2000s, some argued that the Indian government impeded foreign investment with tariffs, investment caps, and tons of red tape. In terms of promoting or retarding economic growth, such policies:
A. increase growth because they keep people producing for the local market. B. decrease growth because they slow the growth of capital. C. increase growth because they stop exploitation by foreigners. D. decrease growth because they cause inflation.
A period of time in which the overall business activity is rising at a rapid rate is known as
A. inflation. B. an expansion. C. a contraction. D. hyperinflation.
When there is a price floor there will be
A. a shortage. B. a surplus. C. either a shortage or a surplus. D. neither a shortage nor a surplus.