Suppose the country of Tiny Town experienced frictional unemployment. This frictional unemployment would
A) definitely signal that the country is in a recession.
B) be considered a natural occurrence in a growing economy.
C) signal that there are more job leavers than job losers.
D) signal that the number of discouraged workers is growing.
B
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Theories of international economics from the 18th and 19th Centuries are
A) not relevant to current policy analysis. B) only of moderate relevance in today's modern international economy. C) highly relevant in today's modern international economy. D) the only theories that actually relevant to modern international economy. E) not well understood by modern mathematically oriented theorists.
One advantage of fiscal federalism is that its decentralized nature _____
a. allows for more rigid rules b. gives voters more choice c. creates thousands of bureaucracies d. forces local governments to collude with one another