Describe the trends and fluctuations in the U.S. unemployment rate from 1980 to 2014
What will be an ideal response?
The unemployment rate has had several significant fluctuations around its average of 6.5 percent. It started by soaring to a high that exceeded 10 percent during the 1982 recession. Then there was a gradual downward trend particularly insofar as the peaks during the recessions in 1990-1991 and 2001 were much lower than in 1982 . But that situation reversed itself with the severe and prolonged recession of 2008-2009 when the unemployment once more jumped (slightly) above 10 percent. Since that peak the unemployment rate has fallen to around 6 percent.
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The quantity that sellers wish to sell tends to ________ as price increases, and so the supply curve is ________ sloping.
A. increase; upward B. decrease; downward C. decrease; upward D. increase; downward
The profits of a partnership are
A) taxed as personal income. B) subject to a corporate tax. C) taxed as capital gains indexed for inflation. D) exempt from taxation.
Recent research suggests that if Apple switched from uniform pricing of its iTunes to two-part pricing,
A) total welfare would increase, but consumer surplus would decrease. B) total welfare and consumer surplus would increase. C) total welfare would decrease, but consumers surplus would increase. D) total welfare and consumer surplus would decrease.
Capital budgeting projects include all of the following except
A) the purchase of a six-month treasury bill. B) the expansion of a plant. C) the development of a new product. D) the replacement of a piece of equipment.