Among Other Things, What Determines the Long-Run Average Unemployment Rate

question 27

Multiple Choice

Among other things, what determines the long-run average unemployment rate and inflation, respectively?

• A) the market power of unions; government spending
• B) efficiency wages; the money supply growth rate
• C) the rate of growth of the money supply; the market power of unions
• D) the minimum wage; the extent to which firms are competitive

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Definitions:

Herrnstein and Murray

Authors of "The Bell Curve," a book that explores the relationships among intelligence, race, and socioeconomic status in the United States.

The Bell Curve

A book by Herrnstein and Murray suggesting that human intelligence is substantially influenced by both inherited and environmental factors and is a better predictor of many personal dynamics, including financial income, job performance, birth out of wedlock, and involvement in crime.

Public Debate

A discussion conducted openly in the public sphere, where individuals or groups present differing viewpoints on specific issues.

Accessibility

denotes the ease with which people, including those with disabilities, can access and use facilities, services, or information.