The natural rate of unemployment:
A. is constant over time.
B. is typically zero.
C. is the normal level of unemployment in an economy in the long run.
D. None of these is true.
Answer: C
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If India decides to enact environmental laws to reduce air pollution, what would be the effect on GDP?
A) GDP would decrease if the pollution controls reduce productivity by more than the cost of the controls. B) GDP would increase as the environmental costs of pollution were not included in the calculation of GDP. C) GDP would increase as the citizens of India were made happier as the air pollution was reduced. D) GDP would increase reflecting the fact that the air would be cleaner.
A consumer's utility is maximized when: a. the dollar amount spent on each good is the same
b. the marginal utility of each good purchased is the same. c. the price of each good is the same. d. None of the above are generally true.
Which of the following will tend to result in the least variation in the expected real rate of return from the ownership of stocks?
What will be an ideal response?
In Figure 32.1, at the market price-quantity combination where production is unlimited, and the government buys the excess, the consumer surplus is Image
A. P*AC. B. HP*C. C. HpfloorBG. D. APfloorB.