Which of the following does NOT describe the natural rate of unemployment?
A) the point where the rates of change in productivity and wages are equal
B) the unemployment rate that exerts inflationary pressures
C) the unemployment rate at which inflation equals expected inflation,resulting in zero price pressures on the economy
D) the point where the rates of change in productivity and wages are equal and the unemployment rate exerts no inflationary pressures
Correct Answer:
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Figure:
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Figure:
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Figure:
Q96: (Figure: Understanding Economic Shifts) Q120: The long-run Phillips curve Q164: The simultaneous occurrence of rising inflation and Q167: Accelerating inflation causes nominal wages to rise,
A) is downward sloping,
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