Look at the Following Data: the Frictional Unemployment Rate Is

question 36

Multiple Choice

Look at the following data: The frictional unemployment rate is 1.5 percent,the natural unemployment rate is 4.5 percent,and the cyclical unemployment rate is -1 percent.The structural unemployment rate is _________ percent and the actual unemployment rate (in this economy) is ___________ percent.

• A) 6; 3.5
• B) 3; 5.5
• C) 3; 3.5
• D) 6; 5.5

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Definitions:

Accounts Payable

Liability accounts on a company's balance sheet representing amounts owed to creditors for goods and services received but not yet paid for.

Prepaid Insurance

Payments made for insurance coverage before the coverage period begins, recorded as an asset on the balance sheet.

Corrected Trial Balance

A list of all the account titles and balances of a company after adjustments and corrections have been made.

Normal Balance

The side (debit or credit) of an account that is typically increased, indicating its usual positive balance in accounting.