Among Other Things, What Determines the Long-Run Average Unemployment Rate

question 27

Multiple Choice

Among other things, what determines the long-run average unemployment rate and inflation, respectively?

• A) the market power of unions; government spending
• B) efficiency wages; the money supply growth rate
• C) the rate of growth of the money supply; the market power of unions
• D) the minimum wage; the extent to which firms are competitive

---

Definitions:

Conclusion

The final part of something, such as an argument or text, summarizing or stating the end result.

Analyzing Argument

The process of evaluating the structure and content of an argument to assess its validity and soundness.

Logical Structure

The arrangement and relationship of components within a statement or argument that determines its validity.

Premises

Statements or propositions that are assumed to be true and serve as the basis for a conclusion in an argument.