Cyclical unemployment refers to
a. the portion of unemployment created by job search.
b. short-run fluctuations around the natural rate of unemployment.
c. changes in unemployment due to changes in the natural rate of unemployment.
d. the portion of unemployment created by wages set above the equilibrium level.
b
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If everyone pays a fixed dollar amount of tax, then the tax is a
A. regressive tax. B. personal tax. C. marginal tax. D. proportional tax.
If the interest rate is 10% then the net present value of these cash flows is
a. $5,000 b. - $9,091 c. -$15,290 d. -$21,901
Which one of the following statements is true in the four-sector circular model?
a. Money flows from government to households for taxes. b. Money flows from foreign economies to households for exports. c. Money flows from government to firms for goods and services. d. Money flows from firms to foreign economies for exports. e. Money flows from households to foreign economies for resources.
In a representative labor market,
a. the wage adjusts to balance the supply and demand for labor. b. the wage equals the value of the marginal product of labor. c. an increase in the supply of labor increases the equilibrium wage. d. Both a and b are correct.