In the long run
A) GDP = potential GDP.
B) unemployment is below its natural rate.
C) LRAS and SRAS lie on the same line.
D) unemployment is above its natural rate.
Answer: A
You might also like to view...
According to the Solow model, technological progress will cause output to increase for two reasons. What are these two reasons?
What will be an ideal response?
According to the Bureau of Labor Statistics, a person who is self-employed is considered
A) unemployed. B) employed. C) not in the labor force. D) a discouraged worker.
Which of the following is NOT a financial institution?
A) a life insurance company B) a pension fund C) a credit union D) a business college
The circular flow diagram shows the flow of resources between households and firms
a. True b. False Indicate whether the statement is true or false