If the unemployment rate for the U.S. economy rises from 7 to 11 percent during a...
If the unemployment rate for the U.S. economy rises from 7 to 11 percent during a year, we can conclude that
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actual GDP exceeds potential GDP. |
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actual GDP is less than potential GDP. |
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the economy is experiencing only frictional unemployment. |
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the natural rate of unemployment for the U.S. economy has risen. |
Homework Answers
If the unemployment rate for the US economy Rises from 7 to 11% during a year, we can conclude that actual GDP is less than potential GDP. To produce this less amount of actual output, employers hire less number of workers, and that increases the unemployment rate.
Answer: option B
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