The natural rate of unemployment:

A) is a constant.
B) is the average of the unemployment rate in a country over time.
C) is determined by adding the unemployment rates in all countries and then dividing it by the number of countries.
D) is always lesser than the level of cyclical unemployment in an economy.


B

Economics

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From 1900 to 2013, real GDP per person has had two important attributes

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Picture an economy that is in general equilibrium. What would happen if the natural rate of unemployment were to experience a decrease?

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Economics

A market is said to be allocatively efficient when the marginal cost of producing each good equals the marginal benefit that consumers derive from that good

a. True b. False

Economics