Unemployment due to the normal processes of quitting and searching for jobs is called ________ unemployment

In a noncooperative environment of pegged exchange rates, if the home nation is experiencing high inflation due to excessive demand, it may choose to ______, which would cause______.

A) forgo the pegged exchange rate; extreme depreciation B) devalue its currency; the foreign nation to suffer deficient demand for its products C) cut the monetary growth rate; a rise in interest rates D) revalue its currency; the foreign nation to suffer excessive demand for its products

Suppose MRTS is not the same across all producers. In this case, the economic outcome is not fully efficient because:

A) exchange is inefficient. B) the use of inputs in production is inefficient. C) the mix of outputs in inefficient. D) none of the above