7. Given the size of total household debt in the U.S., it could be a major problem if:

interest rates continue to decline

there is an increase in inflation

the economy has a long recession

the unemployment rate falls below its natural rate

8. The official unemployment rate will decrease, ceteris paribus, when there is:

A decline in the demand for workers

A decrease in part-time employment

A decline in the size of the labor force

An increase in the non-institutional population