What does the San Francisco Fed paper suggest we should focus on when analyzing the labor market?
Summers Says It’s ‘Preposterous’ to Call U.S. Labor Market Slack

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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The number of job openings compared to unemployment
The number of people unemployed
The historical unemployment rate
The number of people employed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the reasons for the Great Resignation according to the transcript?
Decreasing job satisfaction
Households having unprecedented levels of cash
Lack of job opportunities
High unemployment rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the current unemployment rate compared to historical standards?
About the same as normal
Unchanged
Lower than normal
Higher than normal
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the transcript suggest about the natural rate of unemployment?
It should be lower for a while
It is irrelevant to current conditions
It should remain the same
It should be higher for a while
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does inflation affect real interest rates according to the transcript?
It causes them to decrease
It causes them to increase
It stabilizes them
It has no effect
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