The natural rate of unemployment is comprised of
A) frictional and cyclical unemployment.
B) frictional and structural unemployment.
C) cyclical and structural unemployment.
D) frictional, cyclical, and structural unemployment.
B
Economics
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According to the circular flow, the dollar value of a nation's output is equal to
A) wages. B) profits. C) net income minus taxes. D) total income.
Economics
Which of the following is the free market economist Adam Smith no know for?
(A) The Wealth of Nations (B) The concept of the invisible hand. (C) Explaining the idea of laissez faire. (D) The circular flow model of a mixed economy.
Economics