If GDP is revised downward as a result of the revision, the debt-to-GDP ratio will _________; on the other hand, if GDP is revised upward or there is no change, then the ratio will _________.
Fill in the blank(s) with the appropriate word(s).
increase, decrease or not change
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Which of the following is true for the economy depicted in Figure 9-2?
a. potential output equals y1 b. it would be impossible for this economy to achieve an output greater than y1 c. when output y1 is achieved, the actual rate of unemployment will exceed the natural rate of unemployment d. when output y1 is achieved, the actual rate of unemployment will be less than the natural rate of unemployment
Governments tend to set price ceilings:
A. to ensure everyone can afford certain goods. B. to ensure producers make enough for everyone. C. to ensure producers make enough profit to stay in the industry. D. to prevent consumers from choosing the wrong goods.
A primary determinant of the feasibility of new construction is the relationship between the current level of property prices and the cost of new construction. We would expect the supply of properties to:
A. increase if current property values are greater than the cost of construction B. decrease if current property values are greater than the cost of construction C. increase if current property values equal the cost of construction D. decrease if current property values equal the cost of construction
In August 2018, the U.S. unemployment rate was 3.9% and the civilian labor force was estimated to be 161,776,000. About how many unemployed workers were there in the United States?
a. 63.1 million b. 41.5 million c. 6.3 million d. 3.9 million