What is the difference between seasonal unemployment and structural unemployment?
What will be an ideal response?
Answer: Seasonal unemployment occurs because of schedules, whereas structural occurs because people lack skills.
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The balance of payments has become a central issue for the United States because
A) when the balance of payments is not balanced, society is unbalanced. B) the U.S. economy cannot grow when the balance of payments is in deficit. C) the U.S. has run huge trade deficits in every year since 1982. D) the U.S. never experienced a surplus in its balance of payments. E) the U.S. once ran a large trade surplus of about $40 billion.
According to the quantity equation, the price level would change less than proportionately with a rise in the money supply if there were also
a. either a rise in output or a rise in velocity. b. either a rise in output or a fall in velocity. c. either a fall in output or a rise in velocity. d. either a fall in output or a fall in velocity.