According to Okun's Law, if the natural rate of unemployment is 5% and the actual unemployment rate is 4%, what is the level of full-employment output if output equals $10,125 billion?
A. $10,226 billion
B. $10,025 billion
C. $9926 billion
D. $10,328 billion
Answer: C
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In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system. B. job training programs. C. funding for basic science. D. high rates of saving and investing.
In a free market there are virtually no restrictions, or at best few restrictions, on how a good or service can be produced or sold
Indicate whether the statement is true or false
Based on Table 9.1, the balance on the current account is
A) +100. B) +200. C) 0. D) -100. E) -200.
________ money could be used for some other purpose other than as a medium of exchange, for example, gold coins could be melted down and turned into gold jewelry
A) Commodity B) Fiat C) Paper D) Electronic