According to the text, U.S. manufacturing data show that
a. the economy is rapidly becoming more concentrated into the hands of the few
b. the economy today is less concentrated than it was in 1865, just after the Civil War
c. concentration in the economy has remained fairly stable over the past 40 years
d. the U.S. economy is much more concentrated than most other industrialized nations of the world
e. concentration has fallen rapidly over the past 40 years
C
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Use the following figure for the federal funds market to answer the next question.
If the Fed supplies $200 billion in reserves, the equilibrium prime rate is ________.
A. 5.5% B. 5.0% C. 6.0% D. Undeterminable with the information given.
Recall the Application about the role of megacities in economic growth to answer the following question(s).According to the Application, what is the term economists use to refer to the extra productivity that occur in larger cities?
A. agglomeration economies B. aggregation economies C. economies of scale D. comparative advantage
Which one of the following individuals is NOT counted as unemployed?
A. a 22-year-old aspiring actress currently without any show business employment, but working temporarily as a waitress while she auditions for acting jobs B. a 50-year-old woman laid off from her former job because of a downturn in the company's sales and looking for another job C. a 35-year-old woman fired from her prior work because of poor performance and looking for another job D. a recent college graduate currently without any employment and looking for her first full-time job