Homework Answers
False,
natural real GDP is the point when the economy is at the point where the economy is at its potential and even at this point there is natural rate of unemployment prevalent. The statement is false.
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Natural real GDP refers to the level of real GDP when there is no unemployment. False...
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is...
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is less than equals; is less than equals; is greater than is less than; is less than is greater than; equals
If the economy is at the natural rate of unemployment with the level of real GDP...
If the economy is at the natural rate of unemployment with the level of real GDP at potential output, what would expansionary fiscal or monetary policy do to the economy? How would the economy be effected in the short run and long run? Does the Phillips Curve theory explain what happens?
If unemployment is above the natural level of unemployment, which one of these statements MUST be...
If unemployment is above the natural level of unemployment, which one of these statements MUST be true? Select one: O a. Employment must be below full employment O b. Cyclical unemployment must be negative o c. Real GDP must be above potential GDP d. The economy must be in an expansion e. The economy is experience a strong demand-pulled inflation
if the economy is in a recessionary gap a. real gdp is greater than natural real...
if the economy is in a recessionary gap a. real gdp is greater than natural real gdp b. real gdp is equal to natural real gdp c. real gdp is less than natural real gdp d. the (actual)unemployment rate is less than the natural unemployment rate. d. a and d
Question 83 (Mandatory) (1 point) Which term refers to the rate of unemployment that occurs when...
Question 83 (Mandatory) (1 point) Which term refers to the rate of unemployment that occurs when the economy is producing its potential GDP? a) the natural rate of unemployment b) cyclical unemployment c) structural unemployment d) the normal rate of unemployment Question 84 (Mandatory) (1 point) Exhibit 14-3 Price level Potential output LRAS SRAS AD Real GDP Refer to the graph in the exhibit. In this situation, how could the Bank of Canada return the economy to potential output? a)...
Potential real GDP is O A. the level of GDP attained when most firms are producing...
Potential real GDP is O A. the level of GDP attained when most firms are producing at capacity and unemployment is low. OB. the level of GDP attained when only some firms have excess capacity. O C. the level of GDP attained when all firms are producing at capacity. OD. the level of GDP attained when all firms have excess capacity Potential real GDP
QUESTION 7 When a recessionary gap occurs C a. real output exceeds the natural level of...
QUESTION 7 When a recessionary gap occurs C a. real output exceeds the natural level of output, and unemployment exceeds its natural rate b, real output exceeds the natural level, and unemployment is less than its natural rate C c.real output is less than the natural level of output, and unemployment exceeds it natural rate C d. real output is less than the natural level of output, and unemployment is less tha its natural rate QUESTION 8 What is a...
Question 28 8 pts Natural rate of Potential Real GDP unemployment Actual rate of unemployment Negative...
Question 28 8 pts Natural rate of Potential Real GDP unemployment Actual rate of unemployment Negative GDP Gap Absolute loss of output 200 16 12 500 5 9 400 6 11 380 9.3 Refer to the data in the above table and use Okun's law to determine the size of GDP gap in percentage-point terms as well as how much output is being forgone.
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises. 8. The unemployment rate is the number of unemployed people, expressed as a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population. 9. If part of the labor force is unemployed, the...
when the actual unemployment rate is equal to the natural rate of unemployment that implies that...
when the actual unemployment rate is equal to the natural rate of unemployment that implies that there is no cyclical unemployment. true or false?
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is less than equals; is less than equals; is greater than is less than; is less than is greater than; equals
If unemployment is above the natural level of unemployment, which one of these statements MUST be true? Select one: O a. Employment must be below full employment O b. Cyclical unemployment must be negative o c. Real GDP must be above potential GDP d. The economy must be in an expansion e. The economy is experience a strong demand-pulled inflation
Question 83 (Mandatory) (1 point) Which term refers to the rate of unemployment that occurs when the economy is producing its potential GDP? a) the natural rate of unemployment b) cyclical unemployment c) structural unemployment d) the normal rate of unemployment Question 84 (Mandatory) (1 point) Exhibit 14-3 Price level Potential output LRAS SRAS AD Real GDP Refer to the graph in the exhibit. In this situation, how could the Bank of Canada return the economy to potential output? a)...
Potential real GDP is O A. the level of GDP attained when most firms are producing at capacity and unemployment is low. OB. the level of GDP attained when only some firms have excess capacity. O C. the level of GDP attained when all firms are producing at capacity. OD. the level of GDP attained when all firms have excess capacity Potential real GDP
QUESTION 7 When a recessionary gap occurs C a. real output exceeds the natural level of output, and unemployment exceeds its natural rate b, real output exceeds the natural level, and unemployment is less than its natural rate C c.real output is less than the natural level of output, and unemployment exceeds it natural rate C d. real output is less than the natural level of output, and unemployment is less tha its natural rate QUESTION 8 What is a...
Question 28 8 pts Natural rate of Potential Real GDP unemployment Actual rate of unemployment Negative GDP Gap Absolute loss of output 200 16 12 500 5 9 400 6 11 380 9.3 Refer to the data in the above table and use Okun's law to determine the size of GDP gap in percentage-point terms as well as how much output is being forgone.
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