The primary cause of frictional unemployment is
a. discouraged workers who give up looking for work.
b. fluctuations in aggregate demand.
c. the lack of training and marketable qualifications in job seekers.
d. inaccurate and costly information about job opportunities.
D
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Demand-pull inflation can result when
A) policymakers set an unemployment target that is too high. B) a persistent budget deficit is financed by selling bonds to the public. C) a persistent budget deficit is financed by selling bonds to the central bank. D) workers get numerous wage increases.
The ability-to-pay principle is most closely tied to the concept of
a. horizontal equity in taxation. b. fiscal federalism. c. vertical equity in taxation. d. the benefits principle of tax equity.
Suppose there is a 6 percent increase in the price of good X and a resulting 6 percent decrease in the quantity of X demanded. Price elasticity of demand for X is
a. 0. b. 1. c. 6. d. 36.
If countries that imported goods and services from the United States recovered from recession, we would expect that U.S. net exports would
a) fall, making aggregate-demand curve shift to the right. b) rise, making aggregate-demand curve shift to the left. c) rise, making aggregate-demand curve shift to the right. d) fall, making aggregate-demand curve shift to the left.