The recession of 2008-2009 was in many ways the worst macroeconomic event in more than half a century
a. True
b. False
Indicate whether the statement is true or false
True
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A reduction in the required reserve ratio would cause the interest rates to
A. increase only if the level of investment is low relative to historic levels. B. decrease. C. increase. D. increase only if the level of unemployment is high.
Which of the following statements accurately describes the economy with a recessionary gap?
a. SRAS intercepts AD1 at RGDPNR.
b. RGDP1 is less than RGDPNR.
c. ESR occurs along LRAS.
d. SRAS intercepts LRAS at ESR.
Which of the following societies is the most likely to have a traditional economy?
A. United States B. the Inuit (native people of Northern Canada) C. Cuba under Castro's rule D. modern-day Hong Kong
Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are unemployed this economy?
A. 12.0 million B. 28.8 million C. 18.0 million D. 43.2 million