In Each of the Following Situations, Choose the Best Alternative

question 34

Essay

In each of the following situations, choose the best alternative and give your reason for choosing it.
-You want your 2-year-old to ask for water with a word instead of a grunt. Should you give him water when he says "wa-wa" or wait until his pronunciation improves?

---

Definitions:

Natural Rate

The long-term unemployment rate that is observed once the effect of short-term cyclical factors has been removed and is thought to be due to structural factors in the economy.

Bureau of Labor Statistics

A government agency that collects, analyzes, and disseminates essential economic information to support public and private decision-making.

Natural Rate

The rate of any economic variable, such as unemployment or interest, believed to be inherent when the economy is in equilibrium.

Economic Policy

A course of action that is intended to influence or control the behavior of the economy, including taxation, government budgets, and interest rates.