Suppose Economists Were Able to Measure Frictional Unemployment as 3

question 23

Multiple Choice

Suppose economists were able to measure frictional unemployment as 3 percent, cyclical unemployment as 2 percent, and structural unemployment as 4 percent. Then we would know that

• A)Y is below Y* and there is downward pressure on wages.
• B)Y is above Y* and there is upward pressure on wages.
• C)Y is equal to Y* and there is no pressure on wages.
• D)Y is above Y* and there is downward pressure on wages.
• E)Y is below Y* and there is upward pressure on wages.

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