In the fall of 2007, most economists felt that the
a. unemployment was at the natural rate.
b. unemployment rate was below the natural rate.
c. inflation rate was above the natural rate.
d. inflation rate was below the natural rate.
a
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Auctions in recent years have resulted in higher prices paid for letters written by John Wilkes Booth than those written by Abraham Lincoln. Which of the following events would cause the price differences in these letters to get smaller?
A) The demand for Lincoln letters decreases and the demand for Booth letters increases. B) The demand for Booth letters increases. C) The demand for Lincoln letters increases and the supply of Booth letters increases. D) The supply of Lincoln letters increases.
When calculating GDP, the Bureau of Economic Analysis releases its "advanced estimate" of a quarter's GDP approximately
A) three months before the quarter has ended. B) one year after the quarter has ended. C) three months after the quarter has ended. D) one month after the quarter has ended.
Social security benefits have exceeded/will exceed payroll taxes starting in
A. 2005. B. 2010. C. 2020. D. 2030.
If policy makers expand aggregate demand, they can lower unemployment ____, but only by ____
a. temporarily; decreasing inflation b. temporarily; increasing inflation c. permanently; decreasing inflation d. permanently; increasing inflation