When real GDP is below natural real GDP, the unemployment rate is
A) rising.
B) above the average unemployment rate.
C) falling.
D) below the average unemployment rate.
A
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Which of the following is NOT a reason why people are motivated to hold money?
A) precautionary demand B) liability demand C) asset demand D) transactions demand
How can the Cambridge equation be restated according to Friedman's money demand theory?
a. Md = k(rB, rE, rD)Py b. Md = k/Py(rB, rE, rD) c. Md = Py/k(rB, rE, rD) d. Md = (rB, rE, rD)Py/k
Sam's company produces output with labor and capital. At the current quantities of labor and capital, the following information is obtained: the output produced by spending one more dollar on labor exceeds the output produced by spending one more
dollar on capital. In the long run, is Sam minimizing costs? If not, explain how capital and labor should change (holding output constant) and how this relates to the condition.
When short-term concerns (deadlines) create priorities and longer range management needs are driven out, this part of:
a. McGregor's Law b. Gresham's Law of Planning c. Dorsey's Principle d. Lucien's Law