The unemployment rate that is consistent with full employment is known as __________________.
Fill in the blank(s) with the appropriate word(s).
the natural rate of unemployment
You might also like to view...
Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic. If the federal government eliminated the 18.4 cents per gallon gasoline tax, the price paid by buyers would
A) decrease by less than 18.4 cents. B) decrease by 18.4 cents. C) decrease by more than 18.4 cents. D) stay the same. E) increase by 18.4 cents.
In the long-run, a firm in monopolistic competition produces an amount of output that sets
A) P > ATC and MR = MC. B) P > ATC and MR > MC. C) P = ATC and MR = MC. D) P = ATC and MR > MC.
The market demand curve for a perfectly competitive industry is
a. perfectly horizontal b. perfectly vertical c. upward sloping d. downward sloping e. nonexistent in perfect competition
Economic policies often have effects that their architects did not intend or anticipate
a. True b. False Indicate whether the statement is true or false