At the natural unemployment rate, there is no
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) unemployment.
C
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What is the role of the Federal Open Market Committee (FOMC)?
(A) It makes key decisions about interest rates and the growth of the United States money supply. (B) It redraws the map of the 12 Federal Reserve Districts every ten years in response to economic changes. (C) It collects information on each Federal Reserve District and reports on economic conditions to the Board of Governors. (D) Composed of seven members appointed by the President, it oversees the Federal Reserve System.
Which of the following is not an option for a perfectly competitive firm that suffers short-run losses?
A) reducing the use of variable factors B) shutting down C) raising price D) reducing production