If the Actual Unemployment Rate Is One Percentage Point Less

question 21

Multiple Choice

If the actual unemployment rate is one percentage point less than the NAIRU,then

• A)actual and potential GDP are equal.
• B)actual GDP is greater than potential GDP.
• C)actual GDP is less than potential GDP.
• D)potential GDP will expand permanently.
• E)potential GDP will contract until it equals actual GDP.

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Definitions:

Implied Warranty Of Merchantability

A legal presumption that goods sold by a merchant are fit for the general purpose for which they are sold.

Express Warranty

A clearly stated promise or guarantee about the quality or condition of a product or service made by a seller to a buyer.

Implied Warranty Of Merchantability

A legal presumption that ensures a product sold by a merchant meets certain quality and performance standards.

Disclaimer

A statement that denies responsibility or affiliation, often used to limit legal liability or to distance oneself from certain information or actions.