Frictional unemployment refers to:
a. people who are out of work and have no job skills.
b. short periods of unemployment needed to match jobs and job seekers.
c. people who spend relatively long periods out of work.
d. unemployment related to the ups and downs of the business cycle.
b
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In an open economy, an increase in savings because of concerns about the future should cause the domestic real interest rate to ________ and should cause net exports to ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The short-run aggregate supply (SRAS) curve represents the relationship between
A) the price level and the real Gross Domestic Product (GDP) without full adjustment or full information. B) the price level and the real Gross Domestic Product (GDP) without full adjustment but with full information. C) the price level and the nominal Gross Domestic Product (GDP). D) the decisions of producers and the decisions of consumers.