If the number of potential workers in an economy increases while the size of the labor force remains unchanged, ________
A) the labor force participation rate will fall
B) the labor force participation rate will remain unaffected
C) the labor force participation rate will increase
D) the natural rate of unemployment will increase
A
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In the basic closed-economy ISLM model, the LM curve can be described by an equation where
A) output is a function of consumption. B) money is a function of interest rates. C) output is a function of money. D) interest rate is a function of output.
When resource markets are free to adjust, temporary differentials will cause
a. b, c, and e to occur b. the allocation of fewer resources to lower-paid uses c. the equalization of payments for the same resource in different uses d. no change in the allocation of resources e. the allocation of more resources to higher-paid uses