According to Okun's Law, if the natural rate of unemployment is 5% and the actual unemployment rate is 4%, what is the level of full-employment output if output equals $10,125 billion?
A) $10,328 billion
B) $10,226 billion
C) $10,025 billion
D) $9926 billion
D
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Inflation is the increase in:
A. imports relative to exports. B. total output per worker. C. total output. D. the general level of prices.
Profits of a monopoly are driven to zero
a. In the long-run as all assets are mobile in the long-run b. Immediately in the short-run as assets move from low-valued uses to high-valued uses instantly c. In the long run because the demand curve becomes more inelastic d. In the short run because the demand curve becomes more elastic
In 2012, what percentage of total income in the U.S. was earned by the poorest fifth of all U.S. households?
a. 1.5% b. 1.8% c. 2.0% d. 3.2%
Alexis talks to his uncle, who advises him to diversify if he chooses to invest in stocks. How can Alexis do this?
a. Choose one stock with a solid history of growth and invest primarily in that. b. Purchase shares of preferred and common stock in the same company. c. Purchase shares of a variety of stocks in companies across a range of industries. d. Buy a company’s stock, hold it for a set period, then sell and repeat the process with a different company.