The natural rate of unemployment worsens if:
a. Labor force mobility worsens.
b. Capital markets become more competitive.
c. A nation's resource endowments expand.
d. Real wages become more flexible.
e. None of the above.
.A
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A concentration ratio gives
A) the average size of the firms in an industry. B) the total sales of four or eight of the mid-sized firms in the industry. C) the percentage of all sales contributed by the four or eight largest firms in the industry. D) the sales of the four largest firms in the industry divided by the sales of the eight largest firms in the industry.
Interest rates are positive because
A) people prefer future consumption over current consumption. B) people prefer current consumption over future consumption. C) usury laws require rates to be very high. D) banks are not competitive.