According to published data pertaining to unemployment rates in selected European countries, the natural rate of unemployment
a. has been rising over the past three decades.
b. declined sharply over the last three decades.
c. has been lower than in the U.S. in the 1990s.
d. has not changed much over the past three decades.
e. Both a and c
A
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U.S. Treasury deposits at the Fed are
A) part of M1, M2, and M3. B) part of M1 and M2. C) part of M1. D) not part of the money supply.
The existence of alternative uses of a resource implies that it is:
A) free. B) scarce. C) expensive. D) plentiful.
Behavioral economics recognizes that people use System 1 to make decisions more often than they use System 2. Which of the following is an implication of that decision-making process?
A. A majority of decisions are not made according to the neoclassical assumption of rational behavior. B. Most decisions involve careful calculation of costs and benefits. C. Even though most decisions are irrational, the neoclassical model still accurately predicts outcomes. D. System 1 is best at making optimal decisions.
The labor force participation rate is
A. the percentage of the population who are in the labor force. B. the percentage of the non-institutionalized population who is in the labor force. C. the percentage of the non-institutionalized working age population who is in the labor force. D. the percentage of the entire population who is in the labor force.