Recurring upswings and downswings in an economy's real GDP over time are called?
The production of durable goods varies more than the production of nondurable goods because?
durables purchases are postponable.
Which of the following would most likely move the economy into a recession in the short term?
The central bank printing less money than was anticipated.
Refer to the above information. If the natural rate of unemployment in Scoob is 5 percent, then?
cyclical unemployment is about 2 percent.
Which of the following constitute the types of unemployment occurring at the natural rate of unemployment?
Structural and frictional unemployment.
Which of the following types of unemployment is directly associated with insufficient overall demand for goods and services?
If actual GDP is $500 billion and there is a negative GDP gap of $10 billion, potential GDP is?
Assume the natural rate of unemployment in the U.S. economy is 5 percent and the actual rate of unemployment is 9 percent. According to Okun's law, the negative GDP gap as a percent of potential GDP is?
Refer to the above data. The size of the negative GDP gap as a percent of potential GDP for the above economy is?
If the Consumer Price Index rises from 300 to 333 in a particular year, the rate of inflation in that year is?
Which of the following would most likely occur during the expansionary phase of the business cycle?
Suppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 100 to 105. The person's real income will?
rise by about 15 percent.
Suppose that lenders want to receive a real rate of interest of 5 percent, and that they expect inflation to remain steady at 2 percent in the coming years. Based on this, lenders should charge a nominal interest rate of?