The natural rate of unemployment is the
a. unemployment rate that would prevail with zero inflation.
b. rate associated with the highest possible level of GDP.
c. difference between the long-run and short-run unemployment rates.
d. amount of unemployment that the economy normally experiences.
d
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One common effect of rent ceilings in big cities is
A) that landlords build more apartments. B) that landlords charge "key money," high payments charged to new tenants for new locks and keys. C) to equalize the quantity of apartments demanded and the quantity supplied in neighborhoods. D) to reduce the search activity by those seeking shelter.
Describe three types of short-run macroeconomic equilibrium
What will be an ideal response?
Which of the following consumer goods and services is most like to suffer declining sales during a recession?
A. haircuts. B. ground beef. C. restaurant meals. D. toothpaste.
Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. If MR = $9, then in the long run
A. new firms will enter the industry and the current firms will expand production. B. the firm will exit the industry. C. the firm will shut down. D. None of the above is correct.