The period in the U.S. economy from 1995 to 2012 is characterized by:
A. a higher trend rate of saving.
B. a higher natural rate of unemployment.
C. a higher trend rate of productivity growth.
D. the end of the business cycle.
C. a higher trend rate of productivity growth.
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The value of the absolute price elasticity of demand for good X is 3. The absolute price elasticity for good Y is 2. Which good's quantity demanded is less responsive to a change in price?
A) Good X B) Good Y C) They are equally responsive. D) Not enough information is given.
A recessionary gap:
a. is of little consequence in a capitalist economy. b. represents actual physical output lost. c. implies an equilibrium level of output less than the full-employment level. d. is associated with rising labor prices. e. will automatically close, according to the Keynesian model.
What is the effect of supply-side inflation on the short-run Phillips curve?
heck My Work Use the following scenario for the question below. A group of 100 people seeks out an insurance company to underwrite health insurance for its members. The expected medical spending for the group is $150,000. If an additional 10 people, who have expected medical spending of $5,000 per person on average, join the group, the new premium will be approximately:
a. $2,300. b. $1,818. c. $5,822. d. $2,090. e. $2,139.