What's meant by the NAIRU (Natural Rate of Unemployment)?
A. It is the full-employment unemployment rate
B. It is the unemployment rate at which there is only frictional and structural unemployment
C. it is the unemployment rate at which the labor market has fully adjusted
D. all of the above
Answer: D. all of the above
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The standard of living rises at a faster pace than labor productivity if
A) n = q. B) n < q. C) n > q. D) The standard of living is not affected by the relative size of n and q.
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they require a co-payment