Assuming that the growth rate of full-employment output is 3%, and that the actual unemployment rate fell 2 percentage points in the last year, Okun's Law predicts that output growth rate over the past year was
A) -1%
B) 3%
C) 5%
D) 7%
D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
In the simple trade model, what is assumed about labor?
What will be an ideal response?
Currently in the United States, money is backed by
a. silver in the IMF vaults. b. Federal Reserve notes in banks. c. gold in Fort Knox. d. everyone's willingness to accept it.
Macroeconomics studies the following topics:
A) national output, the inflation rate, and the trade deficit. B) the price of Cisco stock and wage differences. C) differences in market structure. D) all of the above.