The unemployment rate measures the percentage of people in the labor force who can't find a job
Indicate whether the statement is true or false
TRUE
You might also like to view...
In the late 1950s and early 1960s, postwar U.S. economic performance led to the formulation of and belief in a
A) vertical Phillips Curve in the short and long runs. B) vertical Phillips Curve in the long run. C) horizontal Phillips Curve in the short and long runs. D) downward-sloping Phillips Curve in the short and long runs.
Gary Becker and Kevin Murphy are among the economists who believe that social factors such as culture, customs, and religion do not explain the choices consumers make.
a. true b. false
Factors of production such as labor and capital
A. are complementary. B. can be complements and also substitutes. C. can be neither complements nor substitutes. D. are substitutable.
The key indicator of a country's living standard and economic well-being is:
A. real GDP. B. the interest rate. C. real GDP per person. D. nominal GDP per person.