Changes in which of the following do NOT affect the natural unemployment rate?
A) the quantity of money
B) the minimum wage
C) unemployment benefits
D) structural change
E) the birth rate or other demographic data
A
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Explain why resources are used efficiently in a competitive market
What will be an ideal response?
The multiplier effect suggests that:
A. spending $1 increases GDP by more than $1. B. spending $1 increases GDP by less than $1. C. saving $1 increases GDP by more than $1. D. spending $1 decreases GDP by more than $1.
The number of times per year a dollar is used to transact an exchange is known as
a. liquidity of money b. velocity of money c. quantity theory of money d. equation of exchange e. rapidity index
A credence good is a product
A. that emphasizes the features of its product. B. that an individual must consume before the quality can be established. C. with characteristics that enable an individual to evaluate the product's quality in advance of a purchase. D. with qualities that consumers lack the expertise to assess without assistance.