If Unemployment Is at the Natural Rate, Then There

question 329

Multiple Choice

If unemployment is at the natural rate, then there

• A) is no cyclical unemployment.
• B) is no frictional unemployment.
• C) will be cyclical and frictional unemployment but not structural unemployment.
• D) will be only cyclical unemployment.

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Definitions:

Seventeenth Amendment

An amendment to the United States Constitution that established the direct election of U.S. Senators by the citizens of a state, rather than by state legislatures.

Direct Election

A method of choosing political officials where the voters directly cast ballots for the persons or political party that they desire to see elected.

Marbury v. Madison

A landmark Supreme Court case in 1803 that established the principle of judicial review, allowing courts to declare laws unconstitutional.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the current Constitution in 1789 due to its weaknesses.