Reference is macmillan learning achieve macroeconomics 

1. If the frictional rate of unemployment is 1%, the structuralrate of unemployment is 2.1%, and the total unemployment rate is7%, then we can conclude that:

A) the cyclical rate of unemployment is 3.1%.

B) 7% of workers in the labor force are underemployed.

C) the economic growth rate is –7%.

D) the equilibrium rate of unemployment is 3.1%.

2. A seller in a perfectly competitive market cannot

A) decrease the marginal cost.

B) leave the industry.

C) raise the market price of a product.

D) increase the amount he supplies.

3. (Figure: Graph) In the graph, the movement from point L topoint K is caused by

A) an increase in the price of the item.

B) a decrease in the supply of the item.

C) an increase in the supply of the item.

D) a decrease in the price of the item.

4. A rise in population in a country:

A) leads to a downward shift of the aggregate production function.

B) boosts real GDP but not necessarily real GDP per person.

C) always raises the standard of living in a country.

D) leads to an increase in the level of technology in an economy.

Transcribed Image Text:

Price G H M Old supply New supply K Quantity Price G H M Old supply New supply K Quantity