Okun's Law states that
A) there is a relationship between the unemployment rate, real GDP, and potential GDP.
B) supply creates its own demand.
C) as the unemployment rate rises, the inflation rate falls.
D) a higher inflation rate leads to a higher nominal interest rate.
E) as the real wage rate falls, the quantity of labor demanded increases.
A
Economics
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Control of monetary policy rests with
A) Congress. B) the President. C) the Federal Reserve. D) the Comptroller of the Currency. E) the U.S. Treasury.
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According to economists, when two people make exactly the opposite decision
A) one of them is acting irrationally. B) each person evaluates the situation according to his/her individual self-interest. C) one of them is acting out of spite. D) one of them should compromise.
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