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https/Idcccd.blackboard.com/webapps/assessment/take/launchjsp?course assessment id Multiple tempts This test alows2 atlempts This is attempt number Force Completion Once started, this test must be completed in one sitting Do not l Remaining Time: 1 hour, 12 minutes, 00 seconds e Question Completion Status: Moving to another question will save this response. Question1 In the long run the unemployment rate equals a. zero. o b the cyclical rate of unemployment. c the natural rate of unemployment d the sum of the cyclical and natural rate of unemployment. rd ner or a) Moving to another question will save this response to search

Explanation / Answer

1 ans : C The natural rate of unemployment.

[The natural rate of unemployment is the unemployment rate that exists when the quantity of labor demanded is equal to the quantity of labor supplied.]

In the long run the unemployment rate equals, The natural rate of unemployment. This implies that there is no relationship between unemployment and inflation and consequently, the Phillips curve is vertical.

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