We say that the economy is at full employment if the unemployment rate is equal to
A) the amount of cyclical unemployment.
B) the sum of structural and cyclical unemployment.
C) the natural rate of unemployment.
D) the sum of frictional and cyclical unemployment.
E) zero.
C
Economics
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Suppose Mack's wage was $7.00 an hour in 2001 and was $12.00 per hour in 2012. The CPI was 94 in 2001 and 201 in 2012. The 2001 wage in terms of 2012 dollars is
A) $13.16. B) $7.00. C) $14.97. D) $14.07. E) $3.48.
Economics
The existence of alternative uses for a resource implies it isn't scarce.
a. true b. false
Economics