Which of the following statements about full employment is true?
A. Liberal economists insist that an unemployment rate of 4 percent constitutes full employment.
B. Conservative economists feel that an unemployment rate of 6 percent is a realistic portrayal of full employment.
C. Economists cannot agree on what constitutes full employment, thus 5% represents a reasonable compromise.
D. All of these choices are true.
D. All of these choices are true.
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Total profit can be calculated by
a. subtracting total variable cost from total revenue b. subtracting total revenue from total costs c. subtracting total costs from total revenue d. finding the product of the difference between average profit and average total cost and the quantity produced e. quantity produced times the difference between marginal cost and average total cost
If fast food is an inferior good then:
A. the quantity of fast food demanded will rise as the price of fast food rises. B. the demand for fast food will fall as income falls. C. the demand for fast food will fall as income rises. D. the demand for fast food will fall as the price of fast food rises.
When the U.S-foreign exchange rate appreciates in the short run and then depreciates slightly in the long run, it implies that the foreign money supply has:
a. temporarily risen. b. permanently risen. c. temporarily fallen. d. permanently fallen
If fiscal policy makers increase aggregate demand in an attempt to decrease the unemployment rate below the natural rate of unemployment, then _____
Fill in the blank(s) with the appropriate word(s).