Which of the following is usually estimated to be between 4.5 and 5 percent?
a. the labor force participation rate
b. the natural rate of unemployment
c. the rate of frictional unemployment
d. the rate of seasonal unemployment
b. the natural rate of unemployment
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Asking people to indicate their economic values in a survey is an example of what type of economic valuation?
a. Travel cost method b. Contingent valuation c. Hedonic pricing d. Production function valuation e. Avoided cost valuation
A Phillips curve is
A) the correlation between money growth and the inflation rate. B) the negative correlation between the unemployment rate and the vacancy rate. C) the positive observed correlation between the inflation rate and the nominal interest rate. D) an observed positive correlation between the inflation rate and some measure of aggregate economic activity.