Generally,the Higher the Level of Output in an Economy Is

question 30

Multiple Choice

Generally,the higher the level of output in an economy is the ________ will be.

• A)lower the unemployment rate and inflation rate
• B)higher the unemployment rate and inflation rate
• C)higher the unemployment rate and the lower inflation rate
• D)lower the unemployment rate and the higher inflation rate

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Definitions:

Savers

Individuals who allocate part of their income to a savings account or other forms of investment for future use, rather than spending it immediately.

Borrowers

Individuals or entities that take out loans from financial institutions or individuals, typically agreeing to pay back the original amount plus interest.

Structural Unemployment

When people are out of work for a couple of years or longer.

Textile Mill

A factory specialized in manufacturing various kinds of fabrics from natural and synthetic fibers through processes like weaving, knitting, and dyeing.