The costs of unemployment are lowest (and perhaps even negative) for ________ unemployment.
A. structural
B. cyclical
C. frictional
D. cyclical and structural
Answer: C
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A country that dollarizes
A) maximizes its seignorage. B) earns the same amount of seignorage as it would with a currency board. C) earns the same amount of seignorage as it would with exchange-rate targeting. D) eliminates its seignorage. E) must pay seignorage to other governments to use their currency.
For a perfectly competitive firm, any price below its minimum AVC is a
A) market price. B) shutdown price. C) profit maximizing price. D) negative price.
Many people consider lump-sum taxes to be unfair to low-income taxpayers
a. True b. False Indicate whether the statement is true or false
Efficiency occurs when
A. unemployment is low and prices are stable. B. the economy has a fair and just distribution of income. C. all markets are in equilibrium. D. the economy is producing what people want at least possible cost.