The natural rate of unemployment in the United States is about 4 to 5 percent.
a. true
b. false
Answer: a. true
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Moving along a country's PPF, a reason opportunity costs increase is that
A) unemployment decreases as a country produces more and more of one good. B) unemployment increases as a country produces more and more of one good. C) technology declines as a country produces more and more of one good. D) some resources are better suited for producing one good rather than the other. E) technology must advance in order to produce more and more of one good.
Business cycles are officially dated by:
A) National Bureau of Economic Research, NBER. B) Bureau of Economic Analysis, BEA. C) Bureau of Labor Statistics, BLS. D) none of the above.
A commercial bank's reserves consist of
A) capital and U.S. Treasury securities. B) vault cash and U.S. Treasury securities. C) vault cash and deposits with the Federal Reserve. D) deposits with the Federal Reserve and U.S. Treasury securities.
According to the rule of 70, if a country grows at an average rate of 2 percent per year, what would happen after 35 years?
A. The country's real GDP per capita would double. B. The country's nominal GDP would double. C. The country's real GDP would double. D. The country's nominal GDP per capita would double.