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:

Eminent Domain

The right of a government to expropriate private property for public use, with compensation provided to the owner.

Bequeath

To leave personal property to someone through a will.

Fair Compensation

Fair Compensation is equitable financial remuneration given to an employee for their services or to a party as reparation for loss, damage, or injury.

Safe-Deposit Box

A secure container, usually found in banks or private vaults, where individuals can store valuable items such as documents and jewelry.