Which statement is true?
A. During very bad recessions and depressions the total of our frictional and structural unemployment rates is greater than our cyclical unemployment rate.
B. When our overall unemployment rate declines, most of this decline is due to falling structural and frictional unemployment.
C. Cyclical unemployment is generally zero.
D. The sum of the frictional and structural unemployment rates is 5 percent.
D. The sum of the frictional and structural unemployment rates is 5 percent.
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In the liquidity trap a small change in interest rates produces ________ change in the quantity of money demanded
A) a small B) no C) a proportionate D) a very large
The interval between the recognition of a need for a policy change and when the policy change is instituted is called the:
a. recognition lag. b. impact lag. c. policy lag. d. administrative lag.