In light of higher gas prices, Skip Miles asks himself if it's worth keeping his 10 cylinder Chevy Suburban. His concern is ultimately about

Recent entrants into the labor force account for about

a. 1/5 of those who are unemployed. b. 1/4 of those who are unemployed. c. 1/3 of those who are unemployed. d. 1/2 of those who are unemployed.

When actual output equals potential output, there is ________ output gap and the inflation rate will ________.

A. no; be equal to the expected rate of inflation B. an expansionary; exceed the expected rate of inflation C. an expansionary; be lower than the expected rate of inflation D. a recessionary; exceed the expected rate of inflation