If Actual GDP Equals Potential GDP, Then

question 1

Multiple Choice

If actual GDP equals potential GDP, then:

• A)the actual unemployment rate is greater than the natural rate of unemployment.
• B)the actual unemployment rate equals the natural rate of unemployment.
• C)the actual unemployment rate is less than the natural rate of unemployment.
• D)there is a recessionary gap.

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Definitions:

Concealable

Capable of being hidden or kept secret from others.

Reverse Discrimination

The act of giving preference to members of a group historically discriminated against, potentially leading to unfair treatment of other groups.

Tokenism

The practice of making only a perfunctory or symbolic effort to be inclusive to members of minority groups, especially by recruiting a small number of people from underrepresented groups in order to give the appearance of equality.

Minority Group

A sociological term referring to a category of people differentiated from the social majority, often marked by differences in race, ethnicity, culture, or sexual orientation.