The new classical interpretation of the economy suggests that
A) output is always above the natural level.
B) output is always below the natural level.
C) output is always equal to the natural level.
D) recessions will not occur.
C
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Frictional unemployment includes
A) unemployment caused by normal labor turnover associated with people leaving and entering the labor force. B) unemployment caused by industries moving overseas to better meet foreign competition. C) unemployment caused by a lack of education so that workers do not possess necessary job skills. D) unemployment caused by automation of the work place that displaces unskilled workers.
Describe what is meant by economies of scope and explain how financial institutions' realizing economies of scope has led to an increase in conflicts of interest
What will be an ideal response?