Look at the Following Data: the Frictional Unemployment Rate Is

question 31

Multiple Choice

Look at the following data: The frictional unemployment rate is 2 percent,the structural unemployment rate is 3.5 percent,and the actual unemployment rate is 9.5 percent.The natural unemployment rate is ____________ percent and the cyclical unemployment rate is __________ percent.

• A) 1.5; 4
• B) 5.5; 4
• C) 1.5; 6
• D) 6; 15

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Definitions:

Domestic Price

The price of goods or services within a country's borders, influenced by local supply and demand conditions.

Exports

Goods or services sold by a country to buyers located in other countries.

Export Supply

The total amount of goods and services a country's producers are willing and able to sell abroad at a given price level.

Import Demand

The desire or need for products or services brought into a country from abroad.