According to Okun's law, when the output gap is negative, cyclical unemployment:
A. is negative.
B. equals structural unemployment.
C. is positive.
D. equals frictional unemployment.
Answer: C
Economics
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If a monopoly finds that at the present level of production, marginal revenue exceeds marginal cost, the firm should
a. shut down b. increase production c. maintain the production level because MR > MC signifies economic profit d. decrease production so that MC will equal MR e. raise price
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The lowest the poverty rate has been during the last 50 years was in
A. 1960. B. 1967. C. 1973. D. 1979.
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