In the mid-1980s the natural rate of unemployment in the U.S. was about __________ while at present it is about __________
a. 10%; 2.5%
b. 6.5%; 4.5%
c. 4.5%; 6.5%
d. 6.5%; 6.2%
e. 6.5%; 10.0%
B
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The above table shows some national income accounting data for a nation. In this nation, gross domestic product is equal to ________ billion
A) $2,000 B) $2,300 C) $2,500 D) $2,800
During the first 6 months of 2008, the United States imported more than 1.6 billion pounds of coffee. Suppose the United States is considering placing trade restrictions on the importation of coffee
What would be a potential consequence of such a trade restriction? A) The U.S. price of coffee would increase. B) U.S. consumers would drink more coffee. C) The quantity of coffee imported into the United States would increase. D) U.S. consumer surplus from coffee would increase.
Refer to above Table 2-2. What is the increase in real GDP between years 1 and 2 at fixed year 1 prices?
A) 4.3% B) 3.3% C) 2.5% D) 1.9%
Which of the following is true of net taxes?
What will be an ideal response?