Exam 16: The Dynamics of Inflation and Unemployment

Recall Application 1, "Shifts in the Natural Rate of Unemployment" to answer the following questions: -According to the application, William Dickens' findings showed that the natural rate of unemployment has been constant the last 50 years.

Recall Application 1, "Shifts in the Natural Rate of Unemployment" to answer the following questions: -According to the application, William Dickens estimated that the natural rate of unemployment since the 1990s has been:

Inflation in the long run is positively correlated with:

Economists generally agree that increases in the growth rate of the money supply increase inflation and that inflation is undesirable. Given this, why have there been hyperinflations?

If the government prints a $500 bill and it takes the government $2.50 to print the bill, then the seignorage that the government collects is:

Which of the following economists was responsible for developing the theory of rational expectations?