The natural rate of unemployment does NOT include which of the following?
A. cyclical unemployment
B. seasonal unemployment
C. frictional unemployment
D. all of these
Answer: A
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Which of the following is true?
A) At full employment, aggregate supply is equal to potential GDP. B) Aggregate supply is another name for potential GDP. C) Potential GDP decreases as the price level increases. D) The potential GDP line has a negative slope. E) Potential GDP increases as the price level increases.
Fiscal policy most directly affects the economy by increasing or decreasing:
A. aggregate demand. B. interest rate. C. long-run aggregate supply. D. the money supply.
This table represents the revenues faced by a monopolist.PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, the marginal revenue for the 3rd unit is:
A. $800 B. $600 C. $100 D. $500
One cost of unanticipated inflation is:
A. both lenders and borrowers lose. B. arbitrary redistributions of income. C. nominal income falls below real income. D. people cannot repay their debts.