The natural rate of unemployment (i) is the economy's desirable level of unemployment. (ii) arises from a single problem that has a single solution. (iii) is the amount of unemployment that does not go away on its own

According to the article, ________ in ________ have contributed to Canada's ________ change in real GDP

A) increases; consumption and exports; expected B) decreases; exports and investment; unexpected C) increases; consumption and investment; unexpected D) decreases; exports and government spending; expected

Using the concept of income and substitution effects, explain how you might react to each of the following:

(a) You currently work 20 hours a week at $10 per hour and your employer tells you he must reduce your wage to $8 per hour. (b) The price of pizza doubles and the price of hamburgers remains constant.

Real GDP means GDP:

a. valued at prices in a base year. b. that does not change from year to year. c. corrected for changes in quality. d. valued at prices at which goods are actually sold.

By looking at the graph showing growth of government expenditures as a percentage of GDP in the United States from 1929 to 2017, we can see that federal expenditures are almost always ______ state and local expenditures.

a. equal to
b. less than
c. greater than
d. more than double