Exam 23: The Goals of Macroeconomic Policy

Given the labor force, either more capital or better technology will shift the production function downward.

Growth in potential GDP depends on

In 2009, which of the following countries had the lowest average unemployment rates?

Over long periods of time, the growth rates of actual and potential GDP have been

The unemployment rate is the number of unemployed people, expressed as

The difference between the purchase price of a financial asset and the sale price of the asset is called a(n)

The incentive to lend increases as the real rate of interest decreases.

Structural unemployment may be particularly severe for

Older people often reminisce about the "good old days" when prices were much lower.This is misplaced nostalgia primarily because in the "good old days,"

During periods of high inflation, such as the 1979-1980 period, the existence of usury laws may cause

According to economists, one of the signs of an unhealthy economy is a(n)

When you subtract the expected rate of inflation from the nominal rate of interest, you calculate the

Throughout the period from 1996 to 2010, U.S.Real GDP growth has been

Labor productivity measures output per hour of work.

Economists generally assume that ____ economic growth is better for society.

Which of the following groups would have the lowest unemployment rates?

Adding together the growth rate of labor input and the growth rate of labor productivity yields the growth rate of

Which country most recently experienced hyperinflation?

The program of unemployment insurance in the United States was created during the

An increase in the capital stock has the same effect on the production function as an increase in