A downward-moving gdp indicates that ________.

A recessionary gap exists if (actual) real gdp is __________ natural real gdp.

The _____in an economy whose aggregate real output is growing faster than the total population.

During a business cycle expansion, total production ________ and total employment ________.

Everything else held constant, a decrease in net taxes ________ aggregate ________.

If the economy is in a recessionary gap, actual output will be _____ potential output.

The reported interest rate that is not adjusted for inflation is called nominal interest rate

An individual who has not held a job before but is now seeking employment is ___ entrant

The median, or “typical,” unemployment rate, equal to the sum of frictional and structural unemployment when they are at a maximum is natural rate of unemployment

An hourly wage floor set above the equilibrium wage is minimum wage rate

The costs imposed on a firm from changing listed prices is called