When the unemployment rate is equal to its natural rate-that is, no cyclical unemployment exists-the output level produced in the economy is O a) below full-employment output. O b) at full-employment output. O c) above full-employment output. d) always decreasing. e) always increasing.

When the unemployment rate is equal to its natural rate-that is, no cyclical unemployment exists-the output level produced in the economy is O a) below full-employment output. O b) at full-employment output. O c) above full-employment output. d) always decreasing. e) always increasing.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When the unemployment rate is equal to its natural rate-that is, no cyclical
unemployment exists-the output level produced in the economy is
O a) below full-employment output.
O b) at full-employment output.
O c) above full-employment output.
d) always decreasing.
O e) always increasing.

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