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2020 -- Quiz 4 - Name Date ECO 2020(902 11656 Instructor...

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Name: _____________________________________________________ Date: __________________ ECO 2020 (902) 11656 QUIZ 4 Wayne State University Instructor: Jinghua Huang Fall 2011 Multiple Choice: Identify the letter of the choice that best completes the statement or answers the question. 1. The natural unemployment rate is the unemployment rate A) when the economy is in a recession. B) when real and potential GDP are equal. C) when the economy is in a boom. D) related to the business cycle. E)when real and nominal GDP are equal. 2. Frictional unemployment occurs because 3. The Current Population Survey is a survey of 4. To be counted as unemployed a person must be 1
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