The natural rate of unemployment:
A. can vary over time and defines the location of the long-run aggregate supply curve.
B. is constant over time and defines the location of the long-run aggregate supply curve.
C. varies over time in response to changes in aggregate demand.
D. is inversely related to the price level.
A. can vary over time and defines the location of the long-run aggregate supply curve.
You might also like to view...
The inflation rate in Venezuela has increased between 2005 and 2010, rising from 14 percent per year to 31 percent per year. At the same time, the growth rate of real GDP fell from 10 percent per year to -2.6 percent per year
The quantity theory of money A) states that the inflation rate over the period would average 4 percent. B) predicts that the velocity of money will decrease over the period. C) states that the growth rate of money must have increased over the period. D) predicts that nominal GDP will decrease over the period.
Ceteris paribus is:
A. the Latin term for "all other things being the same." B. often used by economists to isolate the effect of a multiple changes that are important. C. only necessary for the definition of the law of demand. D. the Latin term for "as things change only consider these changes".
One goal of rate-of-return regulation is the prevention of
A) free market entry. B) positive economic profits. C) poor quality service. D) environmental degradation.
The typical welfare family would be
A. A single woman with 6 or 8 children. B. A single woman with 1 or 2 children. C. A couple about 70-80 years old. D. A childless male in his 30s or 40s.