The? employment-population ratio measures the
What will be an ideal response?
percentage of the working age population that is employed.
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
In Figure 11.1, a decrease in the marginal propensity to consume is represented by a change in the consumption function from
A) C1 to C3. B) C3 to C1. C) C2 to C1. D) C1 to C2.
As disposable income increases, _____
a. consumption and saving both increase b. consumption increases and saving decreases c. consumption and saving both decrease d. consumption decreases but saving increases e. saving increases, but we cannot predict what happens to consumption
If the cross elasticity of demand coefficient for potato chips and pretzels equals 1.5: a. potato chips and pretzels must both be inferior goods. b. potato chips and pretzels must both be normal goods. c. potato chips and pretzels must be substitutes
d. potato chips and pretzels must be complements.