In 2012,real GDP in the United States was below potential GDP.This fact definitely means that
A) the unemployment rate was near 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
Q227: Full employment means that
A)100 percent of the
Q228: The natural unemployment rate
A)includes only frictional and
Q229: When the economy is at full employment,the
A)natural
Q230: Full employment is the level of unemployment
Q231: When cyclical unemployment is zero,
A)frictional unemployment is
Q233: The natural unemployment rate is
A)equal to the
Q234: Potential GDP is the level of output
Q235: Potential GDP is
A)the value of the maximum
Q236: The natural unemployment rate is the unemployment
Q237: If the unemployment rate is less than
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents