The natural rate of unemployment:
A. Means that the economy will always operate at that rate
B. Means that the economy will always realize its potential output
C. Is equal to the total of frictional and structural unemployment
D. Is a fixed unemployment rate that does not change over time
C. Is equal to the total of frictional and structural unemployment
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How is the market demand for public goods derived?
What will be an ideal response?
Marginal utility is defined as:
a. the extra satisfaction the consumer receives from an extra $1 of income. b. the total level of satisfaction a consumer receives upon the consumption of a certain number of goods. c. the number of hours a consumer would be willing to work to receive a certain product. d. the extra satisfaction a person derives from consuming an additional unit of a good. e. a comparison of the utility a good provides with the price of that good.