___________ is the ability to recognize and use resources effectively

If inflationary expectations increase, we can infer that: a. unemployment is above the natural rate

b. the economy is not on the long-run Phillips curve. c. the short-run Phillips curve is shifting to the left. d. output is below potential GDP. e. the unemployment rate is at the natural rate.

Ashley was being treated unfairly by her boss, so she stormed off the job and two days later found another position. For two days, Ashley experienced

a. cyclical unemployment. b. structural unemployment. c. seasonal unemployment. d. frictional unemployment. e. being out of the labor force.