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.

Covered interest arbitrage moves the market ________ equilibrium because ________.

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

Leading economic indicators are factors that economists at the Department of Commerce have found typically change before changes in economic activity