Which of the following statements is NOT true?
A) Unemployment in the US economy represents an excess demand for labor.
B) A surplus may be reduced by shifting the demand curve rightward.
C) A surplus may be reduced by shifting both the supply and demand curves.
D) A shortage may be reduced by shifting the supply rightward.
A
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If a large number of individuals file unemployment claims while working in the underground economy: a. the unemployment rate overstates the level of unemployment
b. the unemployment rate understates the level of unemployment. c. the accuracy of the unemployment rate is not affected. d. discouraged worker statistics will underestimate the true state of frustration by job seekers.
A nation can determine how close it is to the classical range by considering its:
a. Net export position. b. Capacity utilization index. c. Exchange rate. d. All of the above.