Including discouraged workers in the calculation of the unemployment rate would
A. not change the reported rate.
B. increase the reported rate.
C. change the reported rate, but in an unpredictable manner.
D. lower the reported rate.
Answer: B
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Most people on welfare
a. are not U.S. citizens b. are poorly educated and have few job skills c. do not qualify for food stamps, child care, or Medicaid d. have jobs e. are below the age of 16
Suppose a country has a consumption tax that is similar to a state sales tax. If its government were to eliminate the consumption tax and replace it with an income tax that includes an income tax on interest from savings, what would happen?
a. There would be no change in the interest rate or saving. b. The interest rate would decrease and saving would increase. c. The interest rate would increase and saving would decrease. d. None of the above is correct.
People sometimes worry that American trade with other countries will lead to large U.S. trade deficits and the movement of massive amounts of American capital out of the country. This worry is unfounded because countries cannot
A) increase savings at the same time that a trade deficit grows.
B) spend more than they earn.
C) invest more than they save.
D) have both current account and financial account deficits at the same time.
E) increase their trade with other countries without increasing their savings.
Refer to Table 9-3. What is the value of the bank's net worth?
A) $200 million B) $2,000 million C) $2,800 million D) $3,000 million