According to Okuns Law when cyclical unemployment is negative then the output

# According to okuns law when cyclical unemployment is

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113.According to Okun's Law, when cyclical unemployment is negative, then the output gap: A.is positive. B. is negative. C. equals zero. D. equals the rate of cyclical unemployment. AACSB: Analytical Skills Blooms: Understanding Frank - Chapter 20 #113 Learning Objective: 20- 05 Use Okun’s law to analyze the relationship between the output gap and cyclical unemployment. Section: Output Gaps and Cyclical Unemployment

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114.If firms maintain preset prices in the short run, then the primary cause of outputs gaps is changes in: AACSB: Analytical Skills Blooms: Knowledge Frank - Chapter 20 #114 Learning Objective: 20-06 Discuss the basic differences between how the economy operates in the short run versus the long run. Section: Why Do Short-Term Fluctuations Occur? A Preview and a Parable
115.Varying the quantity of output produced and sold at preset prices is called: AACSB: Analytical Skills Blooms: Knowledge Frank - Chapter 20 #115 Learning Objective: 20-06 Discuss the basic differences between how the economy operates in the short run versus the long run. Section: Why Do Short-Term Fluctuations Occur? A Preview and a Parable

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116.In the long run, output gaps are eliminated by: AACSB: Analytical Skills Blooms: Understanding Frank - Chapter 20 #116 Learning Objective: 20-06 Discuss the basic differences between how the economy operates in the short run versus the long run. Section: Why Do Short-Term Fluctuations Occur? A Preview and a Parable
117.In the long run, total spending only influences: A. actual output. B. potential output. C. productive capacity. D.inflation. AACSB: Analytical Skills Blooms: Understanding Frank - Chapter 20 #117 Learning Objective: 20-06 Discuss the basic differences between how the economy operates in the short run versus the long run. Section: Why Do Short-Term Fluctuations Occur? A Preview and a Parable

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118.In the short run ______ determines output and in the long run ____ determines output. AACSB: Analytical Skills Blooms: Understanding Frank - Chapter 20 #118 Learning Objective: 20-06 Discuss the basic differences between how the economy operates in the short run versus the long run. Section: Why Do Short-Term Fluctuations Occur? A Preview and a Parable

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