Compared to the natural rate of unemployment, the actual unemployment rate is
A) always lower.
B) always higher.
C) always the same.
D) higher in periods when GDP fails to grow at its normal rate.
D
Economics
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If the United States imposes a tariff on foreign chocolate, how are U.S. buyers of chocolate affected?
A) Their demand for chocolate increases because the U.S. production chocolate increases. B) The price they pay for chocolate falls, but they consume less chocolate because less is imported. C) The quantity they consume is unchanged. D) The price they pay for chocolate falls, and they consume more chocolate. E) The price they pay for chocolate rises.
Economics
What are market failures? Discuss examples of market failures. What can government do to improve the results of market failures?
Economics