Exhibit 16-2 Unemployment categories
Category# ofIndividuals
Frictional unemployment  20
Structural unemployment  35
Cyclical unemployment  60
Discouraged workers    5
Underemployed workers  10
Fully employed workers410
Population900
Using the information in Exhibit 16-2, the natural rate of unemployment is

An excise tax on gasoline causes

A) supply of gasoline to shift to the left. B) a reduction in the quantity of gasoline demanded. C) the market clearing price of gasoline to rise. D) All of the above are correct.

A reduction in the tariff on imported steel would most likely benefit a. workers in the steel industry

b. the domestic consumers of steel. c. the domestic producers of steel. d. foreign producers at the expense of domestic consumers.