When the Unemployment Rate Is Relatively High, We Can Conclude

question 88

Multiple Choice

When the unemployment rate is relatively high, we can conclude that:

• A)the economy is in the expansion phase of the business cycle.
• B)potential GDP is in excess of actual GDP.
• C)actual GDP is in excess of potential GDP.
• D)actual GDP is equal to potential GDP.

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Definitions:

Foreign Language

A language that is not the native language of the speaker, but that is used in the area where they are living or while visiting another country.

Alphabetic Order

A method of arranging items based on the sequence of letters in the alphabet from A to Z.

Social Loafing

A scenario in which individuals working in a group setting display reduced effort in achieving objectives, unlike when working independently.

Deindividuation

A phenomenon where individuals in a group lose a sense of self-awareness and as a result, may act differently than they would alone, often leading to anti-normative and disinhibited behavior.