The natural rate of unemployment Answer A. is always less than full employment r
ID: 1232420 • Letter: T
Question
The natural rate of unemployment
Answer
A. is always less than full employment rate of unemployment.
B. equals the sum of frictional and structural unemployment.
C. equals the sum of frictional and cyclical unemployment.
D. increases during recessions.
The determinants of economic growth include all of the following except
Answer
A. improvements in the quality of factors of production.
B. increases in the quantity of factors of production.
C. a stable price level.
D. technological improvement.
In the calculation of GDP, the value of a new house is included in
Answer
A. the depreciation of capital.
B. personal saving.
C. private investment.
D. personal consumption expenditures.
Goods and services produced abroad and sold in the domestic economy are called
Answer
A. exports.
B. transfer payments.
C. imports.
D. net exports.
A trade deficit occurs when
Answer
A. a nation buys less from other nations than it sells to them.
B. imports are less than exports.
C. exports are less than imports.
D. exports equals imports.
In the Case in Point titled
Explanation / Answer
C. equals the sum of frictional and cyclical unemployment. B. increases in the quantity of factors of production. B. transfer payments. A. a nation buys less from other nations than it sells to them. A. a fixed market basket of goods and services, like the consumer price index.