The economy is at full employment when the actual rate of unemployment equals the
a. labor force minus the number of discouraged workers
b. rate of frictionally unemployed plus the rate of structurally unemployed workers
c. rate of cyclically unemployed plus the rate of structurally unemployed workers
d. natural rate of unemployment minus the rate of cyclically unemployed workers
e. rate of discouraged workers plus the rate of underemployed workers
B
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Wealth is
A) equivalent to saving. B) another name for income. C) the same as investment in financial capital. D) defined as the money in your savings account. E) the value of all the things that a person owns.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.