Which of the following is true?
a. The natural rate of unemployment is present when the economy is operating at full employment.
b. The natural rate of unemployment is equal to the number of persons unemployed divided by the number of persons in the labor force.
c. The natural rate of unemployment is primarily the result of the ups and downs of the business cycle.
d. Public policy cannot influence the natural rate of unemployment.
A
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In the long run, existing firms exit a perfectly competitive market
A) only if economic profits are zero. B) if they make a positive economic profit. C) if normal profits are greater than zero. D) only if they incur an economic loss. E) if they either make a normal profit or if they incur an economic loss.
If the exchange rate falls from 120 yen per dollar to 100 yen per dollar, the dollar has ________ and the yen has ________
A) depreciated; appreciated B) appreciated; depreciated C) depreciated; depreciated D) appreciated; appreciated