Of the following years, in which was the U.S. unemployment rate the highest?
A. 1982
B. 1960
C. 2015
D. 1990
Answer: A
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Use the following diagrams to answer the next question.
Assume the economy is on aggregate demand AD1. The Fed should ________.
A. move from MS1 to MS3 to raise interest rate and raise investment B. move from MS1 to MS3 to raise interest rate and lower investment C. move from MS1 to MS2 to lower interest rate and lower investment D. move from MS1 to MS2 to lower interest rate and increase investment
The marginal product refers to the impact of which unit of a productive resource?
a. first b. middle c. last d. average
The marginal product curve rises when the marginal cost curve rises
a. True b. False Indicate whether the statement is true or false
To predict the effects of a tax cut on consumption spending, economists must have some estimate of the
A. income effect. B. substitution effect. C. relative price effect. D. marginal propensity to consume.