Analyze the following graph to answer the following question: FREDCivilian Unemployment Rate 7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 -Natural Rate of Unemployment (Long-Term) Civilian Unemployment Rate 1994 1995 1996 Q3 1995 5.7 1997 1998 s 1999 2000 2001 2002 In the summer of 1995 (Q3-Third Quarter), the civilian unemployment rate was 5.7%. The target rate of unemployment (Natural Rate of Unemployment depicted in the graph above) estimated by the Congressional Budget Office was 5.28% in the summer of 1995. Question: Which of the following examples are unemployment situations that can exist at the target rate of unemployment? A large number of people are unemployed because the economy is in a recession A large number of people are unemployed because aggregate demand is inadequate throughout the economy A large number of people are unemployed because they are moving between jobs to find better wages and working conditions A large number of people are unemployed because real output is below potential output

Analyze the following graph to answer the following question: FREDCivilian Unemployment Rate 7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 -Natural Rate of Unemployment (Long-Term) Civilian Unemployment Rate 1994 1995 1996 Q3 1995 5.7 1997 1998 s 1999 2000 2001 2002 In the summer of 1995 (Q3-Third Quarter), the civilian unemployment rate was 5.7%. The target rate of unemployment (Natural Rate of Unemployment depicted in the graph above) estimated by the Congressional Budget Office was 5.28% in the summer of 1995. Question: Which of the following examples are unemployment situations that can exist at the target rate of unemployment? A large number of people are unemployed because the economy is in a recession A large number of people are unemployed because aggregate demand is inadequate throughout the economy A large number of people are unemployed because they are moving between jobs to find better wages and working conditions A large number of people are unemployed because real output is below potential output

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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