Frictional unemployment can be distinguished from other types of unemployment in that we assume all of the following except
A. The skills of the frictionally unemployed are no longer in demand.
B. The frictionally unemployed possess the necessary education and skills to become employed.
C. There is an adequate demand for labor to employ the frictionally unemployed.
D. Search time is relatively short for frictionally unemployed persons.
Answer: A
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The natural employment surplus is
A) G + T. B) Y - tYN. C) tYN - G. D) YN + G + tYN.
What are the key differences in antitrust enforcement in the U.S. and Europe?
A) EU authorities may only impose civil fines B) It is generally easier to show that a firm is dominant under EU law C) EU antitrust investigations are conducted more quickly than in the U.S. D) all of the above
Suppose there are two countries (country A and country B) each with its own currency (Currency A and Currency B). Suppose the exchange rate is expressed in terms of amount of Currency B needed to get Currency A. A weakening of Currency A would show up as
A. a decrease in the exchange rate. B. an increase in the exchange rate. C. a decrease in the interest rate. D. an increase in the interest rate.
A country is said to have a comparative advantage in a good over another country if that first country:
A. Can produce more units of the good B. Is a more efficient producer of the good C. Is a major consumer of the good D. Has a lower opportunity cost of producing the good