Which type of unemployment increases during a recession?
A) cyclical unemployment
B) frictional unemployment
C) structural unemployment
D) the natural unemployment rate
A
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
The relationship between economic inputs and outputs is
a. productivity b. capital c. production function d. factors of production e. none of the above
An increase in the quantity demanded could be caused by:
a. an increase in the price of substitute goods b. a decrease in the price of complementary goods c. an increase in consumer income levels d. all of the above e. none of the above
In the graph shown above, if market price were $23 there would be
A. a surplus.
B. a shortage.
C. a surplus and a shortage.
D. neither a surplus nor a shortage.