Public policy
a. can reduce both frictional unemployment and the natural rate of unemployment.
b. can reduce frictional unemployment, but it cannot reduce the natural rate of unemployment.
c. cannot reduce frictional unemployment, but it can reduce the natural rate of unemployment.
d. cannot reduce either frictional unemployment or the natural rate of unemployment.
a
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The 1920s were characterized by large numbers of bank failures each year, especially among country banks. Country banks were particularly inclined to fail because:
a. they tended to open too many branches. b. they were not allowed to issue checking accounts. c. they were not allowed to join the Federal Reserve system. d. farm mortgages constituted the major portion of their loans. e. All of the above.
Based on the answer of question 4, the payoffs for both stores will be
a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115
A monopolist’s cost curves may shift down because
A. large-scale input purchases may permit the monopolist to take quantity discounts. B. of advertising expenditure. C. competitors are pushed out of the market. D. of bureaucratic inefficiencies.
In the intermediate range of the aggregate supply curve, higher aggregate demand will increase:
A. both the price level and real GDP. B. real GDP without raising the price level. C. the price level without affecting real GDP. D. the price level but reduce real GDP.