According to classical economists, unemployment rises in recessions due to an increase in ________ unemployment, not ________ unemployment
A) cyclical; frictional and structural
B) frictional and cyclical; structural
C) structural; frictional and cyclical
D) frictional and structural; cyclical
D
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Managers in firms with market power can:
A) not influence price. B) develop strategies that involve both the demand and supply sides of the market. C) only focus on the demand side of the market. D) none of the above.
An example of a public good that is difficult to make excludable is:
A. toll roads. B. city buses. C. state universities. D. police protection.
If the APS is .2, we save
A. 2 percent of our income. B. 8 percent of our income. C. 20 percent of our income. D. 80 percent of our income.
The M1 measure of the money supply equals
A) paper money plus coins in circulation. B) currency plus checking account balances. C) currency plus checking account balances plus traveler's checks. D) currency plus checking account balances plus traveler's checks plus savings account balances.