The natural rate of unemployment is best described as
A. 0 percent.
B. the unemployment rate when the economy is at its peak.
C. the sum of cyclical, frictional and structural unemployment.
D. the unemployment rate that prevails in the long run.
Answer: D
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Moving along the aggregate supply curve,
A) the quantity of capital used increases. B) technology advances. C) the stock of human capital increases. D) only the price level changes. E) the real wage rate is constant.
If the exchange rate falls from 120 yen per dollar to 100 yen per dollar, the dollar has ________ and the yen has ________
A) depreciated; appreciated B) appreciated; depreciated C) depreciated; depreciated D) appreciated; appreciated
When studying the effects of changes in public policy, economists believe that
a. it is important to distinguish between the short run and the long run. b. the assumptions used in studying those effects should be the same for the short run as for the long run. c. the short-run effects of those changes are always more beneficial to society than are the long-run effects. d. the long-run effects of those changes are always more beneficial to society than are the short-run effects.
If the government's expenditures are $1.5 trillion and its tax revenues are $2.2 trillion, the government is running a budget...
What will be an ideal response?