U.S. net unilateral transfers have been positive since World War II, except for 1991, when the U.S. government received sizable transfers from foreign governments to help pay their share of the Persian Gulf War

In the above figure, which point represents a situation with significant shortages of labor, capital, and other resources?

A) point F B) point G C) point I D) point K

Rational expectations are forecasts

a. that, while not necessarily correct, are the best that can be made given the available data. b. that are technically correct. c. that accurately predict the short-term trade-off between inflation and unemployment. d. made by economists using the most sophisticated econometric models.