When there is an inflationary gap, current real GDP is __________ potential real GDP, and the current unemployment rate is __________ the natural unemployment rate. Group of answer choices greater than; greater than greater than; less than less than; less than less than; greater than

No answer from Chat GPT will dislike. Give proper explanation of the correct option and proper explanation of the incorrect options. Hand written solution is not allowed.

Even an economy that is operating at peak efficiency will have a positive unemployment rate. Economists call this "full employment". Full employment is also known as     The natural rate of unemployment     frictional unemployment     cyclical unemployment      Structural unemployment

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer.   The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million (c) Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. (d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Show your work.

Suppose an economy is experiencing the following rates of unemployment by type.     Rate (%) Cyclically Unemployed 4.3 Frictionally Unemployed 4.8 Structurally Unemployed 4.2   The actual unemployment rate is   Multiple Choice   13.3 percent and the natural rate of unemployment is 9.0 percent.   15.5 percent and the natural rate of unemployment is 13.3 percent.   9.0 percent and the natural rate of unemployment is 13.3 percent.   13.3 percent and the natural rate of unemployment is 15.5 percent

EXPLAIN.....  In the long run, the unemployment rate is determined by ____. the rate of cyclical unemployment the rates of frictional and structural unemployment the rate of structural unemployment the rate of frictional unemployment

Which of the following would be considered High Unemployment? Select all that apply 5% 7% 4% 10% 3%

Question 12   When gross domestic product (GDP) increases, national income _________ and national output __________.   is unaffected; is unaffected   increases; increases   decreases; decreases   increases; is unaffected   is unaffected; decreases     Question 13   Which of the following are types of unemployment?   frictional, structural, and practical   practical, structural, and cyclical   frictional, rational, and structural   cyclical, practical, and natural   frictional, structural, and cyclical   Question 14   An example of a person who is not in the labor force is someone who is   unemployed.   under the age of 16.   employed on a part-time basis.   already employed or actively seeking work.   already employed on a full-time basis.

In response to the covid-19 pandemic, many governments responded by an economic stimulus package to mitigate the negative impact of the pandemic on affected families. Changes in economic policies will frequently have an impact on the unemployment rate. Explain whether each of the policy changes described is likely to: (1) affect frictional or structural unemployment and (2) increase or decrease the measured unemployment rate.a) An increase in the number of weeks of employment insurance that unemployed workerscan receive. b) An increase in the minimum wage rate  a) The government introduced new job-training programs to help people who lost their jobs in the affected sectors switch to other sectors.

Suppose an economy is experiencing the following rates of unemployment by type.     Rate (%) Cyclically Unemployed 4.3 Frictionally Unemployed 4.8 Structurally Unemployed 4.2   The actual unemployment rate is   Multiple Choice   13.3 percent and the natural rate of unemployment is 9.0 percent.   15.5 percent and the natural rate of unemployment is 13.3 percent.   9.0 percent and the natural rate of unemployment is 13.3 percent.   13.3 percent and the natural rate of unemployment is 15.5 percent