According to Okun's Law, if the annual growth rate of real GDP is 2.5%, the unemployment rate is likely to ________
A) increase by 0.25% B) decrease by 1% C) increase by 2.5% D) decrease by 0.5%
A
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In the long-run equilibrium of a monopolistically competitive industry
A. P = MC. B. P > minimum (ATC). C. P < MC. D. P = minimum (ATC).
Suppose, compared to last year, the price of beer has increased 4%, the price of jeans has increased 7%, and the price of video rentals has decreased 1%
On the basis of this data, what can an economist conclude about the rate of inflation in the overall economy? A) Nothing. B) The inflation rate is 4%. C) The inflation rate is 7%. D) The inflation rate is 10%. E) The inflation rate is 11%.
What factors can cause the natural rate of unemployment to change?
What will be an ideal response?
Which of the following is an example of a transfer payment?
a. purchase of a producer good b. purchase of a service c. fixed investment d. farm subsidy