A recent economics graduate is looking for a position as an industrial economist. During the period this individual starts looking for a job and ultimately finds one, he may be classified as:
a. seasonally unemployed.
b. frictionally unemployed.
c. cyclically unemployed.
d. structurally unemployed.
e. occasionally unemployed.
b
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Suppose a country operates on its production possibility frontier when it produces 1000 books and 1000 tables. The combination of ________ reflects ________
A) 500 books and 1000 tables; an inefficient but attainable point B) 1000 books and 500 tables; an efficient point C) 1000 books and 1000 tables; a free lunch D) 500 books and 500 tables; an attainable and efficient point E) 1000 books and 1500 tables; a free lunch
Since 1970, the federal government budget has never been in surplus
a. True b. False Indicate whether the statement is true or false
Suppose you observe that with a given supply curve, the Peruvian demand for Argentinean pesos steadily decreases. This will most likely mean:
a. the supply of Peruvian nuevos soles has increased on the foreign exchange market. b. the Argentinean peso will appreciate in value relative to the Peruvian nuevo sol. c. the Argentinean peso will depreciate in value relative to the Peruvian nuevo sol. d. the Peruvian demand for Argentinean goods has increased. e. the supply of Argentinean pesos has increased on the foreign exchange market.
A recessionary gap is defined as
a. an economy that is operating above its full-employment capacity b. an economy that is operating at full-employment capacity c. the amount by which aggregate expenditure exceeds the aggregate expenditure level needed to generate equilibrium national income at full employment without inflation d. the amount by which aggregate expenditure falls short of the level needed to generate equilibrium national income at full employment without inflation e. the path an economy takes out of a depression