In which of the following periods did the U.S. economy NOT experience a recession?
A. 1974/75
B. 1981/82
C. 1987/88
D. 2001/02
E. 2007/09
查看答案
The relationship between job vacancies and the unemployment rate is called
A. the Beveridge curve
B. the original Phillips curve
C. the augmented Phillips curve
D. Okun's law
E. none of the above
Okun's law states that if the unemployment rate increases by 1percentage point, then
A. real GDP will fall by about 2 percent
B. real GDP will also fall by about 1 percent
C. real GDP will fall by about 0.5 percent
D. the rate of inflation will decline by about 2 percent
E. the rate of inflation will decline by about 0.5 percent
The fact that an increase in the unemployment rate by 1 percent will lead to a roughly 2 percent loss in output is referred to as
A. the sacrifice ratio
B. the replacement ratio
C. the misery index
D. the Beveridge relationship
E. Okun’s law
Concerns about high unemployment
A. are not justified since most people find new employment in less than 3 months
B. are irrational since the government routinely provides unemployment benefits for more than one year
C. arise from its high costs in terms of lost output
D. stem from the fact that the costs of unemployment tend to be unevenly distributed
E. both C) and D)
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