Economists Are Able to Estimate the Natural Rate of Unemployment

question 101

Multiple Choice

Economists are able to estimate the natural rate of unemployment in the United States:

• A) very precisely.
• B) in a 95 percent confidence interval of 2 to 3 percentage points.
• C) in a 95 percent confidence interval of 10 to 20 percentage points.
• D) only in years when there are no supply shocks.

Understanding the role of placebos and how they contribute to controlling for extraneous variables.

Recognizing limitations and strengths of experimental research.

Identifying strategies to control for demand characteristics and experimenter bias.

Understand the definition and scope of social psychology.

---

Definitions:

Cultural Norms

Collective norms and regulations that influence the conduct of individuals within societal collections.

Extreme Prejudice

Extreme prejudice refers to intense bias or hostility towards particular groups, which can manifest in aggressive discrimination, violence, or exclusionary practices.

Majority

A definable category of people who are socially advantaged.

Discrimination

Unfair or prejudicial treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.