The type of unemployment for which the net economic costs are most likely to be small is
A) cyclical unemployment.
B) chronic unemployment.
C) frictional unemployment.
D) structural unemployment.
C
Economics
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According to ________, when real GDP is ________ percentage points greater than potential GDP, the unemployment rate is one percentage point ________ the natural unemployment rate
A) Okun's Law; four; below B) Keynes' Law; two; below C) Phillip's Law; four; above D) Say's Law; two; above E) Okun's Law; two; below
Economics
Which of the following would the calculation of GDP include?
(A) The price of the steel used to build a new hotel. (B) The income of a high school English teacher. (C) The sale of a 25-year-old house. (D) The income of a person who pays rent by babysitting for the homeowner's children.
Economics