Refer to Figure 28-2. Suppose the economy is at point B in the figure above. Which of the following is true?
A) The economy is producing at potential GDP.
B) The expected rate of inflation is 3%.
C) The natural rate of unemployment is 3.8%.
D) The current unemployment rate is 5%.
E) Expected inflation and actual inflation are the same.
B
Economics
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Which of the following is true if the total cost curve is rising?
a. Total fixed cost is decreasing. b. Total fixed cost is increasing. c. Marginal cost is decreasing. d. Marginal cost is increasing.
Economics
If the marginal utility per dollar spent on Good X exceeds that of Good Y, the utility-maximizing consumer should:
a. buy less of Good X and more of Good Y. b. buy less of Good Y and more of Good X. c. buy more of both Good X and Good Y. d. buy less of both Good X and Good Y.
Economics