Essay
What are the two reasons why the rate of growth of output has to be at least equal to the normal growth rate of output (which is 3.75% using Australian data 1960- 2011) to prevent the unemployment rate from rising? Explain.
Correct Answer:
Verified
To maintain a constant unemployment rate...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q26: Explain why economists care about inflation.
Q55: Policy makers can become concerned if the
Q56: Pure inflation occurs when:<br>A) the GDP deflator
Q57: The Okun's law is an empirical relation
Q58: Changes in aggregate output in the medium
Q59: Explain what factors cause changes in output
Q61: Which of the following prices will be
Q63: A firm's value added equals:<br>A) its revenue
Q64: The next question(s) refer to the following
Q65: A very low level of unemployment can