In Canada, as elsewhere, the unemployment associated with a recession is called
a. structural unemployment
b. frictional unemployment
c. discouraged unemployment
d. cyclical unemployment
e. temporary unemployment
D
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An economy that grows too slowly fails to raise living standards
Indicate whether the statement is true or false
The balance of payments accounts are divided into two sections: the current account and the financial account
Indicate whether the statement is true or false
Assume that for the fourth quarter of 2012, nominal GDP was $245 billion, potential real GDP was $260 billion, and the GDP deflator was 112. According to Okun's law, the cyclical unemployment rate during the fourth quarter of 2012 was
A) 2.9%. B) 3.1%. C) 8.0%. D) 8.4%.
If nominal GDP increased from $5,000 billion in 2010 to $5,500 billion in 2011 and the GDP deflator increased from 130 to 140 over the same time period, what would the 2011 real GDP equal expressed in terms of 2010 dollars?
a. $4,643 billion b. $5,107 billion c. $5,385 billion d. $5,500 billion