Suppose that the natural unemployment rate is 4.5 percent and the actual unemployment rate is 3.5 percent. Then cyclical unemployment is
A) 1 percent.
B) -1 percent.
C) 8 percent.
D) 0 percent.
B
Economics
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A market in which there is only one seller, and there is no close substitute for the product being sold, is called
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Economics
Which of the following is not a reason why government programs might fail to achieve their goals?
a. Insufficient information to correctly achieve the goal. b. One policy goal is in direct conflict with another policy goal. c. Politicians respond to political incentives to deviate from the goal. d. Inability to use coercion to achieve the goal.
Economics