Assume that for the third quarter of 2012, actual real GDP was $176.1 billion and potential real GDP was $163.9 billion. According to Okun's law, the cyclical unemployment rate during the third quarter of 2012 was
A) -6.1%.
B) -3.7%.
C) 3.5%.
D) 6.1%.
B
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Which one of the following techniques would most likely be used to estimate the value of preservation of a remote arctic wildlife preserve?
a. Hedonic pricing b. Travel cost method c. Production function valuation d. Engineering cost valuation e. Contingent valuation
The relationship between the level of prices and the quantity of real GDP supplied is known as:
A. aggregate supply. B. market supply. C. aggregate demand. D. market demand.
When an investment bank ________ securities, it guarantees a price for a corporation's securities and then sells them to the public
A) underwrites B) undertakes C) overwrites D) overtakes
Exhibit 10-1 Aggregate supply curve
In Exhibit 10-1, higher price levels allow producers to earn higher profits, stimulating production and employment in:
A. the segment labeled ab. B. the segment labeled bc. C. the segment labeled cd. D. both segment bc and segment cd.