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Author Question: It is possible for the United States to compete against cheap foreign labor because expensive ... (Read 104 times)

Tirant22

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on: Jun 29, 2018
It is possible for the United States to compete against cheap foreign labor because expensive domestic workers
 
  A) pay U.S. taxes.
  B) receive subsidies.
  C) are more productive.
  D) belong to unions.

Question 2

What is the relationship between the natural unemployment rate, the unemployment rate, potential GDP, and actual GDP?
 
  What will be an ideal response?


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huda

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

When the economy is at potential GDP, the unemployment rate is the natural unemployment rate. If actual GDP is less than potential GDP, then the unemployment rate exceeds the natural unemployment rate. And if actual GDP exceeds potential GDP, then the unemployment rate is less than the natural unemployment rate.


Tirant22

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

scottmt

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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