The natural rate of unemployment is the
a. unemployment rate that would prevail with zero inflation.
b. rate associated with the highest possible level of GDP.
c. difference between the long-run and short-run unemployment rates.
d. amount of unemployment that the economy normally experiences.
Answer: D
Macroeconomics
- Suppose that a worker in Radioland can produce either 4 radios or 1 television per year, and a worker in Teeveeland can produce either 2 radios or 4 televisions per year. Each nation has 100 workers. Also suppose that each country completely specializes in producing the good for which it has a comparative advantage. If Radioland trades 100 radios to Teeveeland in exchange for 100 televisions each year, then each country's maximum consumption of new radios and televisions per year will be
- Economists generally support
- A good that is produce abroad and sold domestically is called
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- The slope of a straight line is calculated by
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- Which of the following is an example of a normative statement?
- Which of these statements is a normative statement (as opposed to a positive statement)?
- Which of the following is an example of a positive statement?
- Economists consider normative statements to be
- A normative statement describes how the world
- Which is the best statement about the roles of economists?