The natural rate of unemployment ________
A) is equal to 0.078 percent
B) is a constant
C) varies across time and countries
D) is equal to the cyclical rate of unemployment divided by the actual rate
C
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An increase in price will decrease demand.
Answer the following statement true (T) or false (F)
Which of the following statements is true?
A. GDP is greater than national income, which is greater than NDP. B. Government spending is the largest sector of GDP. C. A Social Security check sent to a retiree is counted as part of GDP. D. The purchase of a new factory is counted in the investment sector of GDP.
A demand curve is a
A. graphical representation of alternative demands. B. graphical relationship, that includes several things such as tastes, time, and supply. C. horizontal line connecting amounts demanded at various income levels. D. graphical representation of the demand schedule.
The marginal revenue product curve shifts when
A) wages fall. B) there is a change in the product price workers are producing. C) wages rise. D) the wages paid exceed the price.