Question : The natural rate of unemployment refers to the:

Option 1: Rate of unemployment that prevails when the economy is at full employment
    

Option 2: Rate of unemployment that prevails during a recession
  

Option 3: Rate of unemployment that prevails during inflation

Option 4: Rate of unemployment that prevails during deflation

Question : A situation in which a person is not willing to work at the existing wage rate.

Option 1: full employment
 

Option 2: Involuntary unemployment
 

Option 3: voluntary unemployment

Option 4: none of these

Question : The concept of the natural rate hypothesis suggests that:

Option 1: Unemployment will eventually return to its natural rate
   

Option 2: Unemployment can be permanently reduced through government intervention
 

Option 3: Inflation can be permanently reduced through government intervention

Option 4: Inflation and unemployment are unrelated

Question : If aggregate supply exceeds aggregate demand, the economy is likely to experience:

Option 1: Inflationary pressure
 

Option 2: Deflationary pressure
 

Option 3: Recessionary pressure

Option 4: Stagflation

Question : The Gini coefficient is a measure of:

Option 1: Economic growth
    

Option 2: Inflation rate
    

Option 3: Income inequality

Option 4: Unemployment rate