Unemployment describes the condition where:
A. equipment and machinery are going unused.
B. a person cannot get a job but is willing to work and is actively seeking work.
C. a person does not have a job, regardless of whether or not he or she wants one.
D. any resource sits idle.
Answer: B
Economics
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Within the AD/AS model, if consumers and investors become more optimistic about the future direction of the economy,
a. aggregate demand will decrease. b. aggregate demand will increase. c. long-run aggregate supply will increase. d. long-run aggregate supply will decrease.
Economics
While not as relevant today, the trade theory that was useful in explaining the pattern of trade when the US dominated the global market is the ______ theory.
Fill in the blank(s) with the appropriate word(s).
Economics