Which of the following statements is likely to be true according to Okun's Law?
A) The unemployment rate remains constant when the growth rate of real GDP is 0%.
B) The unemployment rate remains constant when the growth rate of real GDP is 3%.
C) The unemployment rate increases when the growth rate of real GDP is above 3%.
D) The unemployment rate declines when the growth rate of real GDP is below 3%.
B
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In trade, if—due to technology—a nation can produce a good (such as Germany's production of snowboards) with fewest resources, it is known as a(n):
a. absolute advantage. b. technology advantage. c. comparative advantage. d. resource advantage.
Studies strongly suggest that advertising strategies are generally much more effective than pricing strategies as a means to increase market share
Indicate whether the statement is true or false