Suppose that the natural unemployment rate is 4.5 percent and the actual unemployment rate is 3.5 percent. Then cyclical unemployment is
A) 1 percent.
B) 3.5 percent.
C) 8 percent.
D) 0 percent.
E) -1 percent.
E) -1 percent.
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Rapid population growth can threaten sustained economic growth if it: a. leads to diminishing marginal returns in production
b. remains unmonitored by government agencies. c. enables economies of scale in production to be exploited. d. leads to increased capital formation.
Evidence seems to indicate that the demand for many agricultural products
A) has increased much more than supply over the years. B) is relatively elastic. C) is relatively inelastic. D) is relatively income elastic. E) b and d
What has been the effect of hydraulic fracturing?
A. increased Superfund payments and disbursements B. reduced reliance on fossil fuels C. increased availability on renewable energy D. increased production of and lower prices for natural gas and oil
The model of monopolistic competition differs from the model of perfect competition in which of the following assumptions?
A. Perfect information B. Large number of firms C. Free entry and exit D. Product homogeneity