When the economy is operating at an output beyond its full-employment potential, the
a. actual level of unemployment will exceed the natural rate of unemployment.
b. actual level of unemployment will equal the natural rate of unemployment.
c. strong demand for resources will place upward pressure on resource prices.
d. aggregate demand will increase until full employment is restored.
C
Economics
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Refer to the scenario above. The housekeeper behaves in this particular way due to the ________
A) existence of asymmetric information B) presence of a positive externality C) presence of a free-rider problem D) existence of high incentive to work
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Define the concept used in economics known as Ockham's Razor
What will be an ideal response?
Economics