The natural rate of unemployment is that rate at which the economy achieves its potential real GDP
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Abe can catch 10 pounds of fish an hour or pick 10 pounds of fruit. Zeb can catch 30 pounds of fish an hour or pick 20 pounds of fruit
The opportunity cost of fish is ________ for Abe than for Zeb, and the opportunity cost of fruit is ________ for Abe than for Zeb. A) higher, lower B) lower, higher C) higher, higher D) lower, lower
Suppose the population of El Campo is 120,000. Of the population 16 years and older, 50,000 are employed, 10,000 have never worked and are not looking for work, 5,000 are not working and are looking for work, and 15,000 are retired and not looking
for work. The labor force equals A) 50,000. B) 55,000. C) 65,000. D) 80,000.
A person 16 years or older who does not work and does not look for work is officially classified as:
A. unemployed. B. employed. C. out of the labor force. D. chronically unemployed.
If demand is elastic, a price reduction will lead to an increase in total revenue.
Answer the following statement true (T) or false (F)