Full employment is defined by the Council of Economic Advisers as
A) 4 percent.
B) every adult who wants to work has a job.
C) the unemployment rate associated with zero inflation.
D) the unemployment rate associated with the normal frictions in the labor market.
Question 2
The principle of rival consumption applies to which of the following?
A) national defense
B) the free-rider problem
C) the exclusion principle
D) a private good
