Structural unemployment arises when
a. marginal productivity of labor becomes zero.
b. there is a cyclical change in the economy.
c. jobs are eliminated by changes in the economy.
d. people change their jobs.
c
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Initially, the economy is at point G in Figure 10-4 above. A change in per capita savings ________ will after complete adjustment ________
A) point X to point E; lower the growth rate of output per capita B) point X to point E; raise the growth rate of output per capita C) point E to point X; raise output and saving but not the growth rate of output per capita D) point E to point X; raise output and saving and the growth rate of output per capita
Assume perfect capital mobility. Under a fixed exchange rate system, expansionary fiscal policy causes income to _____, while under flexible exchange rates expansionary fiscal policy causes income to _____
a. increase; increase b. increase; remain unchanged c. increase; decrease d. remain unchanged; increase