The natural rate of unemployment:
a. is the sum of both frictional and structural unemployment when they are at a maximum.
b. includes only frictional unemployment
c. includes only structural unemployment.
d. includes only cyclical unemployment.
a
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Output price changes cause substitution effects and scale effects. ?
Answer the following statement true (T) or false (F)
How does the text distinguish between the market and government?
A) The market is based on competition; the government is based on cooperation. B) The market is based on prices; the government is based on policies. C) The market is based on individualism; the government is based on socialism. D) In all of the above ways. E) In none of the above ways.
If the United States imposes a tariff on imported cars, the
A) U.S. demand curve shifts rightward. B) U.S. demand curve shifts leftward. C) U.S. supply curve shifts rightward. D) the price in the United States rises but neither the U.S. demand curve nor the U.S. supply curve shift.
The best description of the economic ideology during World War I was __________
a. The belief that the economy could be strengthened by centralized coordination. b. The economy would work best with a strong commitment to the free market. c. The US should eliminate many federal agencies during World War I to make the government more efficient.