A. have chosen not to work at the market wage
B. have given up looking for a job but would accept a job at the current wage if one were offered to them.
C. are too productive to be hired at the current wage
D. are unable to find a job at the current wage rate
Aggregate Supply, Unemployment And Inflation
Aggregate Supply, Unemployment And Inflation
A. a vertical (or almost vertical)
B. a downward sloping
C. a horizontal (or almost horizontal)
D. an upward sloping
A. minimum wage agreements
B. trade
C. scale economies
D. insider-outsider distinctions
E. efficiency wages
F. all of the above
A. 30%
B. 10%
C. 70%
D. 40%
A. voluntary unemployment
B. classical unemployment
C. voluntary unemployment
D. Frictional unemployment
A. Smaller
B. Larger
C. the same size
D. None of these
A. price level, aggregate economy
B. tax rate, government budget
C. wage rate, labor market
D. interest rate, market for loanable funds
A. shoe leather costs
B. menu costs
C. income redistribution
D. uncertainly
E. all of the above
A. horizontal, natural rate of inflation
B. horizontal natural rate of unemployment
C. vertical natural rate of inflation
D. vertical equilibrium rate of unemployment
A. numbers of employees
B. welfare plans
C. budget deficits
D. expenditures
