If the Unemployment Rate for the U

question 278

Multiple Choice

If the unemployment rate for the U.S. economy rises from 7 to 11 percent during a year, we can conclude that

• A) actual GDP exceeds potential GDP.
• B) actual GDP is less than potential GDP.
• C) the economy is experiencing only frictional unemployment.
• D) the natural rate of unemployment for the U.S. economy has risen.

---

Definitions:

Create (+) Screen

A feature in software applications that allows a user to initiate the creation of a new item or record.

Transaction Type

Categorizes the nature of the financial activity within an accounting system, such as sales, purchases, payments, and receipts.

Budgeting

The process of creating a plan to spend your money, outlining anticipated income and expenses over a particular period.

Legal Entity Type

Categories under which business or organization structures are legally recognized, such as LLC, corporation, partnership.