If unemployment in the United States was approximately 5 percent, most economists would believe that the economy was
a. experiencing abnormally high unemployment.
b. at or near full employment.
c. experiencing an abnormally high labor force participation rate.
d. in the midst of a strong economic boom.
B
Economics
You might also like to view...
The Phillips curve is thought to reflect the relationship between
A) unemployment and inflation. B) the price level and inflation. C) unemployment and real GDP. D) inflation and real GDP.
Economics
When Susan makes the statement, "The government should spend less money to take care of national parks," she is
A) making a normative statement. B) making a positive statement. C) testing an economic model. D) not dealing with scarcity.
Economics