The natural rate of unemployment occurs if there is no
a. unemployment.
b. frictional unemployment.
c. structural unemployment.
d. cyclical unemployment.
D
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The NBER's Business Cycle Dating Committee picks recession dates by looking at many variables, the four most important of which are industrial production, manufacturing and trade sales, nonfarm employment, and real personal income
These variables are known as A) leading indicators. B) coincident indicators. C) lagging indicators. D) recession indicators.
Which of the following statements is not correct?
a. Two examples of early antitrust laws are the Sherman and Clayton Antitrust Acts. b. Antitrust laws automatically prevent mergers between companies that produce similar products. c. Antitrust laws give the government power to increase competition. d. Antitrust laws can reduce social welfare if they prevent mergers that would lower costs through more efficient joint production.
If the economy is growing beyond potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) the money supply and a decrease in interest rates. B) government purchases. C) oil prices. D) taxes.