If decision makers have limited ability to calculate profits from all possible combinations of options, they are said to have

When the economy is operating at full employment, the natural unemployment rate consists of only

A) cyclical unemployment. B) frictional and structural unemployment. C) frictional and cyclical unemployment. D) structural and cyclical unemployment.

A "war on drugs" is waged, and, as a result, a larger quantity of drugs flowing into the United States is seized and more drug traffickers are arrested. If demand for drugs is relatively elastic, one would expect the total expenditure on drugs to: a. decrease

b. increase. c. stay constant. d. There is not enough information available to make a determination.