Economics MCQs

A. Voluntary unemployment
B. Classical unemployment
C. Voluntary unemployment
D. Frictional unemployment

A. 30%
B. 10%
C. 70%
D. 40%

A. minimum wage agreements
B. trade
C. scale economies
D. insider-outsider distinctions

A. A vertical (or almost vertical)
B. A downward sloping
C. A horizontal (or almost horizontal)
D. An upward sloping

A. Have chosen not to work at the market wage
B. Have given up looking for a job but would accept a job at the current wage if one were offered to them.
C. Are too productive to be hired at the current wage
D. Are unable to find a job at the current wage rate

A. Demand, supply
B. Is, lm
C. Ad, as
D. Labor demand, labor supply

A. Long run, short run
B. Flexible imperfect markets
C. Short-term long run
D. Long run, imperfect markets

A. Fall
B. Increase
C. Remain the same
D. Fluctuates

A. Numbers of employees
B. Welfare plans
C. Budget deficits
D. Expenditures

A. Horizontal, natural rate of inflation
B. Horizontal natural rate of unemployment
C. Vertical natural rate of inflation
D. Vertical equilibrium rate of unemployment