The natural unemployment rate
A) is a constant figure of about 4 percent.
B) fluctuates with the rate of inflation.
C) is the unemployment rate that occurs when the economy is at full employment.
D) is equal to cyclical unemployment.
C
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Refer to Table 8-17. What is real GDP in 2016, using 2011 as the base year?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
Cross-sectional data observed at several points in time is known as:
A) time series data. B) panel data. C) experimental data. D) none of the above.
If the government spends less than what it receives in taxes during a given interval, then the result is
A) a balanced budget. B) an entitlement. C) unrealized public debt. D) a government budget surplus.
At the national level, a Board of____________ runs the Federal Reserve.
a. Representatives b. Presidents c. Governors d. Banks