Refer to Figure 17-2. Suppose the economy is at point B in the figure above. Which of the following is true?
A) The economy is producing at potential GDP.
B) The current unemployment rate is 5%.
C) Expected inflation and actual inflation are the same.
D) The expected rate of inflation is 3%.
E) The natural rate of unemployment is 3.8%.
D
Economics
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How does a tariff affect the domestic price of the import, the domestic consumption, the domestic production, and the quantity imported?
What will be an ideal response?
Economics
The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal external benefit is
A) zero. B) $5,000. C) $4,000. D) $8,000.
Economics