Index of the average prices of goods and services throughout the economy (up when prices rise, down when prices fall)
What will be an ideal response?
price level
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Along the short-run Phillips curve SRPC2 the natural unemployment rate is
A) 8 percent. B) 3 percent. C) 4 percent. D) 6 percent. E) an amount that can be determined from the figure but none of the above answers is correct.
On average, since 1900 U.S. output has grown roughly ________ times faster than population growth.
A. 3 B. 4 C. 2 D. 5
A futures contract is an example of:
A. a contract that is traded but is not a financial instrument. B. an instrument used solely by financial institutions. C. a derivative instrument. D. a high-risk security that will only have value if certain events occur.
The difference between the actual unemployment rate and the natural unemployment rate is
A. the percentage of discouraged workers in the labor force. B. frictional unemployment. C. cyclical unemployment. D. structural unemployment.