Economists use the terms resource and input as synonyms
Indicate whether the statement is true or false
True
Economics
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In economic theory, an unemployment rate of _________ considered desirable
a. 5 percent or less b. 9 to 10 percent c. Under 12 percent d. 18 percent
Economics
The Congressional Budget Office estimated that the NAIRU was equal to about __________ in 2015.
A. 6.0% B. 4.0% C. 9.6% D. 5.0%
Economics
A liquidity trap exists when a change in the money supply immediately and drastically affects interest rates.
a. true b. false
Economics
A surplus of wheat
a. is impossible if people are hungry b. is impossible if the price of wheat is below equilibrium c. will result in an increase the price of wheat d. is unlikely to result in any change in the price of wheat e. indicates that the problem of scarcity of wheat has been solved
Economics