If the unemployment rate is above its natural rate, then ________
A) output is below its potential level
B) there is excess tightness in the labor market
C) wages and prices will rise more rapidly and the AS curve will shift to the left
D) all of the above
E) none of the above
A
Economics
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Refer to Table 20-1. The unemployment rate for this simple economy equals
A) (100/1,000 ) × 100. B) (100/15,000 ) × 100. C) (100/1,100 ) × 100. D) (100/20,000 ) × 100.
Economics
A policy to increase aggregate demand to cure a recessionary gap may succeed; however, inflation is a likely result
a. True b. False Indicate whether the statement is true or false
Economics