Cyclical unemployment occurs when real GDP falls below potential GDP
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Inflation can be started by
A) a decrease in aggregate supply or a decrease in aggregate demand. B) a decrease in aggregate supply or an increase in aggregate demand. C) an increase in aggregate supply or an increase in aggregate demand. D) an increase in aggregate supply or a decrease in aggregate demand. E) an increase in aggregate demand or an increase in potential GDP.
Macroeconomics is a branch of economics that studies: a. the different costs associated with production
b. the price and output decisions made by different industries. c. the overall performance of the economy. d. the role of a market in determining an efficient outcome. e. the role of input suppliers in determining the price and quantity of output.
The relationship between price and quantity demanded is said to be;
(a) Positive. (b) Negative. (c) Inverse. (d) Negative or inverse.
In the game shown below, firms 1 and 2 must independently decide whether to charge high or low prices.Firm OneFirm Two??High PriceLow Price?High Price(10,10)(5,-5)?Low Price(5,-5)(0,0)Which of the following are Nash equilibrium payoffs in the one-shot game?
A. (-5, 5) B. (0, 0) C. (5, -5) D. (10, 10)