During the Great Depression, the unemployment rate rose to about
A. 15%.
B. 25%.
C. 40%.
D. 50%.
Answer: B
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The Webb-Pomerene Act of 1918 prohibits price fixing and other anticompetitive agreements that pertain solely to goods for export
Indicate whether the statement is true or false
Reported GDP increases when, in fact, total production is unchanged when I. there is a shift from household production to market production. II. a previously illegal activity is legalized
A) I only B) II only C) neither I nor II D) both I and II
The natural rate of unemployment is fixed and unchanging
Indicate whether the statement is true or false
Suppose that the federal budget is balanced when GDP is at potential GDP. If equilibrium GDP falls below potential,
A) this will result in a current budget deficit. B) government transfer payments will be rising and tax receipts will be falling. C) the cyclically adjusted budget will be balanced. D) All of the above are correct.