Use the graph to help determine which one of the following statements regarding unemployment and business cycles is true.?
A. The unemployment rate usually continues to rise even after the recession has ended.
B. The unemployment rate fell right after the end of the recession in November 2001.
C. The unemployment rate was not affected by the recession in November 2001.
D. The unemployment rate fell right the beginning of the recession in November 2001.
Ans: A. The unemployment rate usually continues to rise even after the recession has ended.
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A group of producers who join forces to buy supplies and equipment and to market their output is a(n) ______
A) not-for-profit organization. B) S corporation. C) producer cooperative. D) sole proprietorship. E) cottage industry.
Which of the following is NOT included in the expenditure approach to calculating GDP?
A) investment B) wages C) consumption expenditure D) government expenditures on goods and services E) net exports of goods and services
Discuss what is necessary to make rational decisions. Be sure to mention opportunity cost, marginal cost, and marginal benefit
What will be an ideal response?
Which of the following would most likely NOT be taught in a macroeconomics course?
A) changes in the health care industry B) factors leading to different economic growth rates among countries C) government actions in response to a slowdown in the economy D) the relationship between the inflation rate and the unemployment rate