If the unemployment rate is 6.1% and the number of people employed is 400,000, the labor force is approximately
A. 402,500 people.
B. 426,000 people.
C. 431,000 people.
D. 464,500 people.
Answer: B
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If the Treasury finances an expenditure by borrowing from banks with excess reserves, the money supply will
A) remain unchanged. B) rise by an amount equal to the expenditure. C) rise by a multiple of the expenditure. D) fall by a multiple of the expenditure.
In the above figure, what is total cost at the profit-maximizing point?
A) $182 B) $126 C) $112 D) $170
Suppose there are only two goods, apples and oranges. What happens if the price of each good increases by 15 percent?
a. The consumer will substitute apples for oranges. b. The consumer will substitute oranges for apples. c. There is no substitution effect because relative prices have remained constant. d. Demand for both goods increases. e. Demand for both goods decreases.
Economists agree that if a monetary policy rule is to be used, the best one makes the growth rate of the money supply constant
a. True b. False Indicate whether the statement is true or false