In 2009, real GDP in the United States was below potential GDP.This fact definitely means that
A) the unemployment rate was nearing 10 percent.
B) the unemployment rate was above the natural unemployment rate.
C) the economy was in an expansion.
D) cyclical unemployment had been decreasing.
E) frictional unemployment was negative.
Correct Answer:
Verified
Q221: Which of the following is true?
A)Real GDP
Q227: Full employment means that
A)100 percent of the
Q235: Potential GDP is
A)the value of the maximum
Q241: Who is cyclically unemployed?
A)Casey,who lost his job
Q249: During a recession,
A)real GDP is equal to
Q260: When the economy is at full employment,
A)the
Q279: The natural unemployment rate is the unemployment
Q281: Which of the following is the smallest
Q282: If an entire industry relocates to a
Q283:
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