Homework Answers
Ans) Natural rate of unemployment is the minimum rate of unemployment. This rate occurs even in healthy economy due to presence of Frictional and structural unemployment.
Unemployment rate and inflation have indirect relationship. A zero rate of unemployment will be harmful due to undesirable inflation.
Option c.
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Question 26 3 pts The unemployment rate that occurs during full employment (known as the natural rate of unemploymen...
iz Instructions over the questions carefully. There are 30 questions and each question has a value...
iz Instructions over the questions carefully. There are 30 questions and each question has a value of 3 points. Question 26 The unemployment rate that occurs during full employment (known as the natural rate of unemployment) is: The unemployment rate experienced by the least-skilled workers in the economy. The unemployment rate experienced by the most-skilled workers in the economy. The unemployment rate below which inflation will become a problem. The unemployment rate experienced at the depth of a depression. Previous
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is...
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is 3%. Potential output is $ 100. Using the slope coefficients for the Phillips Curve and/or for Okun's Law from the textbook, calculate actual output (in $)?
Question 19 (2.8 points) If GDP>LRAS, it is called which of the following? O natural rate...
Question 19 (2.8 points) If GDP>LRAS, it is called which of the following? O natural rate of unemployment full employment O recessionary gap expansionary gap Question 20 (2.8 points) The use of Government spending and taxes to affect the economy is called O classical economics O progressive income tax fiscal policy stagflation
0/1 pts Question 3 If the economy is producing beyond its long-run capacity, with unemployment below...
0/1 pts Question 3 If the economy is producing beyond its long-run capacity, with unemployment below the natural rate of unemployment, which type of policy is most likely to be conducted? • Expansionary Monetary Policy Contractionary Monetary Policy Pro cyclical Monetary Policy Show.me-the-Money-tary Policy All of the Above are equally likely
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)...
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known...
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known as excess supply in the labor market Some workers are coerced to work Some unemployment is necessary, which means the employer can motivate workers to provide effort on the job. the wage-setting curve is always to the left of the labor supply curve Question 9 Profit-maximizing condition for the firm occurs when marginal rate of substitution equals marginal rate of transformation There is no...
Macropoland, a country that is a natural gas and oil importer, has a natural rate of...
Macropoland, a country that is a natural gas and oil importer, has a natural rate of unemployment (at the full employment level of GDP) that is about 4.5%, and the long run average rate of inflation over time has been about 2%. However, during the period 1973-1974, the country experienced an inflation rate of about 15% while simultaneously experiencing unemployment of nearly 13%. At the present time, Macropoland is experiencing very sluggish consumption and investment (a result of a fall...
Macropoland, a country that is a natural gas and oil importer, has a natural rate of...
Macropoland, a country that is a natural gas and oil importer, has a natural rate of unemployment (at the full employment level of GDP) that is about 4.5%, and the long run average rate of inflation over time has been about 2%. However, during the period 1973-1974, the country experienced an inflation rate of about 15% while simultaneously experiencing unemployment of nearly 13%. At the present time, Macropoland is experiencing very sluggish consumption and investment (a result of a fall...
Question 26 With a vertical long run AS curve, any attempt by the government to reduce...
Question 26 With a vertical long run AS curve, any attempt by the government to reduce GDP through decrease in aggregate demand will lead to Select the correct answer below decrease in GDP with no corresponding deflation in the long run decrease in both GDP and the price level in the long run decrease in the price level with no effect on GDP in the long run decrease in the price level with no corresponding decrease in GDP in the...
iz Instructions over the questions carefully. There are 30 questions and each question has a value of 3 points. Question 26 The unemployment rate that occurs during full employment (known as the natural rate of unemployment) is: The unemployment rate experienced by the least-skilled workers in the economy. The unemployment rate experienced by the most-skilled workers in the economy. The unemployment rate below which inflation will become a problem. The unemployment rate experienced at the depth of a depression. Previous
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
Question 11 1 pts The unemployment rate is 6% and the natural rate of unemployment is 3%. Potential output is $ 100. Using the slope coefficients for the Phillips Curve and/or for Okun's Law from the textbook, calculate actual output (in $)?
Question 19 (2.8 points) If GDP>LRAS, it is called which of the following? O natural rate of unemployment full employment O recessionary gap expansionary gap Question 20 (2.8 points) The use of Government spending and taxes to affect the economy is called O classical economics O progressive income tax fiscal policy stagflation
0/1 pts Question 3 If the economy is producing beyond its long-run capacity, with unemployment below the natural rate of unemployment, which type of policy is most likely to be conducted? • Expansionary Monetary Policy Contractionary Monetary Policy Pro cyclical Monetary Policy Show.me-the-Money-tary Policy All of the Above are equally likely
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)...
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known as excess supply in the labor market Some workers are coerced to work Some unemployment is necessary, which means the employer can motivate workers to provide effort on the job. the wage-setting curve is always to the left of the labor supply curve Question 9 Profit-maximizing condition for the firm occurs when marginal rate of substitution equals marginal rate of transformation There is no...
Question 26 With a vertical long run AS curve, any attempt by the government to reduce GDP through decrease in aggregate demand will lead to Select the correct answer below decrease in GDP with no corresponding deflation in the long run decrease in both GDP and the price level in the long run decrease in the price level with no effect on GDP in the long run decrease in the price level with no corresponding decrease in GDP in the...
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