Cyclical unemployment is characterized as:
What will be an ideal response?
the deviation in the actual rate of unemployment away from the natural rate.
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All of the following statements about marginal benefit are correct EXCEPT the marginal benefit of a good
A) is the benefit a person receives from consuming one more unit of the good or service. B) is measured as the maximum amount that a person is willing to pay for one more unit of the good. C) is equal to zero when resource use is efficient. D) decreases as the quantity consumed of the good increases.
The quantity supplied of a good is the amount that a. buyers are willing and able to purchase
b. sellers are able to produce. c. buyers and sellers agree will be brought to market. d. sellers are willing and able to sell.
Which of the following is an example of human capital?
a. textbooks b. hand held power tools c. knowing how to repair cars d. All of the above are correct.
If the U.S. government imposes a quota on imports of jet planes, then
a. net capital outflow rises. b. net exports rise. c. the exchange rate rises. d. All of the above are correct.