In the United States, estimates of the natural rate of unemployment in recent years have varied between
A) 0 percent and 2 percent. B) 0 percent and 4 percent.
C) 5 percent and 6.5 percent. D) 2 percent and 4 percent.
C
Economics
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When the LM curve is vertical,
A) fiscal policy has no impact on equilibrium income. B) fiscal policy has no impact on the equilibrium interest rate. C) the economy is at full employment. D) monetary policy has no impact on equilibrium income.
Economics
If the price of labor goes up and a firm replaces some workers with more machines, this is the _______ effect; when the price of a resource declines, and consequently the level of production rises, this is the _______ effect.
Fill in the blank(s) with the appropriate word(s).
Economics