The actual rate of unemployment will be greater than the natural rate of unemployment when
a. the actual output is less than the economy's potential output.
b. the actual output is greater than the economy's potential output.
c. the actual output is equal to the economy's potential output.
d. the inflation rate has been relatively constant for several years.
A
You might also like to view...
A college student's choice of a major and an occupation reflects:
a. each college student's future expectation of wage inflation. b. a lack of information on the part of the students. c. a lack of proper education and vocational training. d. the return on investment in human capital. e. the opportunity costs each college student faces.
The primary emphasis in macroeconomics is on:
A) how firms set prices. B) aggregates in the economy. C) marginal analysis and normative economics. D) international trade and environmental economics.
Which president signed into law the creation of the Environmental Protection Agency?
A. Richard Nixon B. Lyndon Johnson C. John F. Kennedy D. Jimmy Carter
John has $4000 in savings to buy an engagement ring for his girlfriend even though he has no plans to propose in the near future. When his transmission needs to be replaced in his car, John charges the $2000 worth of auto repair. John's decision is an example of:
A. over consumerism. B. people recognizing that money is fungible. C. people making false distinctions about their money. D. everyday expenses being easier to charge than big purchases.