The Natural Rate of Unemployment

question 103

Multiple Choice

The natural rate of unemployment:

• A) would increase if a larger percentage of the labor force were over 25 years old.
• B) would increase if union membership fell.
• C) would increase if unemployment benefits were increased.
• D) will always remain fixed.

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Definitions:

F-ratio

A statistic used to compare the variance among group means in an analysis of variance (ANOVA) test.

P-value

A function of the observed sample results in a statistical hypothesis test, representing the probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

Speeds

Rates at which an object covers distance, often measured in units like miles per hour or kilometers per hour.

ANOVA Table

A statistical table used to analyze the differences among group means in a sample by comparing variance estimates.