If the natural rate of unemployment equals 8 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:

An example of a positive economic statement is, "An increase in the price of a product causes consumers to purchase more of that product."

a. True b. False

Import quotas are

a. methods for reducing imports by limiting the quantity of goods that can enter the country each year. b. voluntary agreements by exporting countries to limit sales in a foreign country. c. subsidies to foreign producers to encourage them to trade. d. None of these.