Fluctuations in economic performance is one of the two basic issues of macroeconomics. The other is:
A. tracking unemployment.
B. keeping interest rates in check.
C. long-run economic growth.
D. monitoring inflation rates.
Answer: C
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When aggregate expenditure is given as Y= 600 + 0.5Y, short-run equilibrium output equals:
A. 800. B. 600. C. 400. D. 1,200.
A shift of the supply curve of oil raises the price from $70 a barrel to $80 a barrel and reduces the quantity demanded from 40 million to 38 million barrels a day. You can conclude that the
A) demand for oil is elastic. B) demand for oil is inelastic. C) supply of oil is elastic. D) supply of oil is inelastic.
What can be said about the comparison between the unemployment benefits offered in Europe and in the United States?
a. Unemployment benefits tend to be lower in Europe and are offered for shorter periods than in the United States b. Unemployment benefits tend to be higher in Europe and are offered for shorter periods than in the United States c. Unemployment benefits tend to be lower in Europe and are offered for longer periods than in the United States d. Unemployment benefits tend to be higher in Europe and are offered for longer periods than in the United States e. Unemployment benefits in Europe and the United States tend to be of similar magnitude and are offered for similar periods.
The consumers that the CPI is based on includes:
A. unemployed persons in urban areas. B. "urban consumers." C. professors. D. All of these are included.