Business cycle persistence refers to the property that
A) real GDP is rarely exactly at trend.
B) booms and recessions last a long time.
C) when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend.
D) business cycles are persistently hard to predict.
C
Economics
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Which of the following types of unemployment is likely to exist in an economy that is at its potential output level?
a. Cyclical unemployment only b. Structural unemployment only c. Frictional, cyclical, and seasonal unemployment only d. Frictional, seasonal, and structural unemployment only e. Seasonal unemployment only
Economics
Under oligopoly, there are
A. so many firms that no one can control the price. B. low barriers to entry. C. identical products. D. high barriers to entry.
Economics