Assuming that full employment of labor is considered 5 percent unemployment, in 1998 and 1999, the United States economy operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
outside or beyond
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If the growth rate of nominal GDP and the rate of inflation in an economy are 4% and 1% respectively, the growth rate of real GDP in the economy must be:
A) 4%. B) 1%. C) 3%. D) 5%.
The above figure shows the Lorenz curves for four different countries. Which of the following statements CANNOT be made on the basis of the graph?
A) Incomes are distributed unequally in all four countries. B) Income distribution in country D is the most unequal among the four countries. C) Incomes are higher in country A than in country B. D) Income distribution is more equal in country B than in country D.
A defined benefit pension plan is designed to retain a worker at the same firm for his or her career
Indicate whether the statement is true or false
The slope of a line with rise of five and run of two is positive.
Answer the following statement true (T) or false (F)