Unlike cyclical unemployment, both frictional and structural unemployment rise during recessions and fall during expansions
Indicate whether the statement is true or false
FALSE
Economics
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A vertical aggregate supply schedule implies that
a. real wages cannot impact output. b. unemployment cannot impact output. c. aggregate demand is horizontal. d. the price level does not impact output.
Economics
Refer to the above figure. A price ceiling has been set at P1, and a black market has opened. The equilibrium black market price will be
A) below P1. B) between P1 and P3. C) above P3. D) P2.
Economics