Most developing countries (DVCs) exhibit a low level of:

When Al makes the statement, "The cost of living has increased 10 percent over the past 10 years," he is

A) making a normative statement. B) making a positive statement. C) testing an economic model. D) facing the standard of living tradeoff.

When the economy goes into recession, the biggest increase in unem-ployment is _________

A. structural because jobs are lost in most states B. cyclical because jobs are lost in many industries as they cut production C. frictional because the creation of jobs slows D. the combination of structural and frictional as few new jobs are created.