Which of the following is likely to happen if the government imposes a tariff?
A) Domestic producers will be worse off.
B) Domestic producers will face higher foreign competition.
C) Domestic producers will face fewer foreign competitors.
D) Domestic consumers will be better off.
C
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When is the U.S. economy at full employment?
a. When there is no cyclical unemployment b. When there is no structural unemployment c. When there is no full employment d. When there is no seasonal unemployment e. When there is no frictional unemployment
Cyclical unemployment is a problem because
a. it reflects lost output b. workers are not compensated have no income support at all while they are unemployed c. it will never reach zero d. cyclically-unemployed individuals do not have the skills needed for available jobs e. we do not know how to reduce it