During the last half of 2012, the U.S. unemployment rate was above the natural rate and real GDP growth was low. Which of the following is the most likely unemployment rate for this time period?
a) 5 percent
b) 6 percent
c) 8 percent
d) 4 percent
Answer: c) 8 percent
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As interest rates rise, _____.
(A) It becomes more expensive to hold money as cash. (B) Bonds and savings accounts become less attractive for investment. (C) Firms will generally spend their wealth. (D) It becomes less expensive to hold money as cash.
The nominal wage represents _____
Fill in the blank(s) with the appropriate word(s).
In the political market place, typical voters
A) support policies that they think will make the poor better off. B) fire bureaucrats who support efficient policies. C) are fully informed. D) are sometimes rationally ignorant about a policy.
A neighborhood tree-planting program generates positive externalities
Indicate whether the statement is true or false