When an economy experiences strong economic growth,
a. the number of families in the bottom 10 percent of the income distribution decreases
b. the income of families in the bottom of the income distribution increases
c. only the top of the income distribution is affected
d. the accompanying inflation cancels out any change in income distribution
e. the rich are no better off because taxes rise with income
B
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After graduating from college, Yunis, age 22, started working for his parents' real estate business as an unpaid assistant. He works 25 hours a week helping manage rental units. In the Current Population Survey, Yunis is considered
A) part of the labor force and unemployed. B) part of the labor force and employed. C) not part of the labor force. D) a discouraged worker. E) part of the labor force but not part of the working-age population.
Predatory pricing
A) is extremely hard to document in the U.S. economy today. B) is most often practiced in the retailing industry. C) is not legal under U.S. law but is regularly practiced by foreign firms competing in the United States. D) is principally responsible for the decline of competition in the oil industry.
Government-run employment agencies and public training programs both seek to reduce frictional unemployment
a. True b. False Indicate whether the statement is true or false
One In the News article is titled "CBO's Flawed Forecasts." According to the text, the CBO's forecasts typically miss the actual budget balance in the fifth year by
A. 4 percent of GDP. B. 2 percent of GDP. C. 1 percent of GDP. D. 3 percent of GDP.