At full employment,
A) real GDP exceeds potential GDP.
B) the unemployment rate is equal to the natural unemployment rate.
C) the unemployment rate is zero.
D) the inflation rate is zero.
E) the inflation rate must equal the natural unemployment rate.
Correct Answer:
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Q60: If aggregate demand decreases, the
A) short-run Phillips
Q61: The long-run Phillips curve shows the relationship
Q62: The long-run Phillips curve is a
A) horizontal
Q63: The long-run Phillips curve shows the relationship
Q64: The long-run Phillips curve applies when the
Q66: The long-run Phillips curve is a vertical
Q67: In the long run, the unemployment rate
A)
Q68: If the economy is at full employment,
Q69: The lack of a long-run tradeoff between
Q70: When aggregate demand increases, there is a
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