In Conditions of Full Employment

question 410

Multiple Choice

In conditions of full employment

• A) no one in or out of the labor force is unemployed.
• B) the only unemployment results from a normal frictions and structural mismatches in the labor market.
• C) the only unemployment results from cyclical swings in economic activity.
• D) no one in the labor force is unemployed.

Explain the concepts of balance of trade and how it affects a country's economy.

Understand the significance and purposes of strategic alliances and partnerships in international business.

Grasp the concept and impact of absolute and comparative advantage in international trade.

Identify the key international organizations and agreements that facilitate global commerce.