ecotest28 - Chapter 28 Unemployment and Its Natural Rate...

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Chapter 28 Unemployment and Its Natural Rate MULTIPLE CHOICE i . The natural rate of unemployment is a. zero percent. b. the rate associated with the highest possible level of GDP. c. the amount of unemployment that the economy normally experiences. d. the difference between the long-run and short-run unemployment rates. ANSWER:  c. the amount of unemployment that the economy normally experiences. TYPE: M  KEY1: D  OBJECTIVE: 1  RANDOM: Y  ii . Cyclical unemployment refers to a. the relation between unemployment and a worker’s changing level of experience. b. year-to-year fluctuations of unemployment around its natural rate. c. long-term trends in unemployment. d. None of the above are correct. ANSWER:  b.  year-to-year fluctuations of unemployment around its natural rate. TYPE: M  KEY1: D  OBJECTIVE: 1  RANDOM: Y  iii . Cyclical unemployment is closely associated with a. short-run ups and downs of the economy. b. long-term economic growth. c. fluctuations in the natural rate of unemployment. d. None of the above are correct. ANSWER:  a.  short-run ups and downs of the economy. TYPE: M  KEY1: D  OBJECTIVE: 1  RANDOM: Y 
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ecotest28 - Chapter 28 Unemployment and Its Natural Rate...

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