Susan Greenberg, who works in a typewriter factory, becomes unemployed because people start buying personal computers instead of typewriters. Susan can best be described as:
A. frictionally unemployed.
B. structurally unemployed.
C. cyclically unemployed.
D. not part of the labor force.
Answer: B
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The short-run Phillips curve shows
A) a tradeoff between the unemployment rate and the inflation rate. B) a tradeoff between real GDP and unemployment. C) the expected inflation rate. D) the natural unemployment rate. E) potential GDP.
According to the above table, there is an excess quantity demanded of 1500 DVDs at the price
A) $14. B) $12. C) $10. D) $8.
Aggregate output will decrease if there is a(n)
A. unplanned fall in inventories. B. decrease in consumption. C. unplanned rise in inventories. D. increase in saving.
GDP does not directly measure those things that make life worthwhile, but it does measure our ability to obtain many of the inputs into a worthwhile life
a. True b. False Indicate whether the statement is true or false