The natural rate of unemployment is best described as
A. 0 percent.
B. the unemployment rate when the economy is at its peak.
C. the sum of cyclical, frictional and structural unemployment.
D. the unemployment rate that prevails in the long run.
Answer: D
Economics
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Suppose the annual growth rate of GDP in Belize is 3.5 percent. In 20 years, GDP in Belize will double
A) 1 time. B) 1.5 times. C) 3.5 times. D) 7 times.
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Suppose a tax equal to the value of the marginal external cost at the optimal output is imposed on a pollution generating good. All of the following will result from the tax except
A) an increase in demand for the good. B) a decrease in the equilibrium quantity produced and consumed. C) an increase in the equilibrium market price. D) a decrease in market supply of the good.
Economics