When aggregate expenditures fall below the full-employment level of output, which of the following types of unemployment is most likely to increase?
A. Seasonal.
B. Structural.
C. Cyclical.
D. Frictional.
Answer: C
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A shadow price is:
(a) the price in the previous period. (b) the price in the next period. (c) the social value of a good or service. (d) the market value of a good or service. (e) none of the above.
Which of the following actions gave Ralph an indirect ownership share in a corporation?
a. He holds stock in a technology firm. b. He bought products from a large department store. c. He invested for retirement in a mutual fund. d. He bought gift certificates from a restaurant chain.
If the interest rate on a bond is below the equilibrium interest rate, there is an excess ________ of bonds and the bond price will ________
A) demand; rise B) demand; fall C) supply; rise D) supply; fall
An increase in an effective federal minimum wage would tend to cause ________
A) a decrease in wage rates and an increase in employment B) an increase in wage rates and employment C) a decrease in wage rates and employment D) an increase in wage rates and a decrease in employment