What makes the macroeconomic performance of the 1993 to 1998 period so unusual is the
A. simultaneous occurrence of unemployment and inflation increases.
B. simultaneous occurrence of real GDP decreases and inflation rate increases.
C. occurrence of real GDP decreases while the unemployment rate increases.
D. simultaneous occurrence of reduced unemployment rates and falling inflation rates.
Answer: D
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Julia is offered two options of government subsidies: $100 food stamp or $100 cash. If she receives $100 cash, she will spend $80 on food
If equivalent evaluation is measured for the situation when only $100 is available to her, the equivalent evaluation is A) greater than $100. B) equal to $100. C) less than $100. D) Not enough information.
Suppose you have a Cobb-Douglas function with a capital elasticity of output (á) of 0.28 and a labor elasticity of output (â) of 0.84 . What statement is correct?
a. There are increasing returns to scale b. If the amount of labor input (L) is increased by 1%, the output will increase by 0.84% c. If the amount of capital input (K) is decreased by 1%, the output will decrease by 0.28% d. The sum of the exponents in the Cobb-Douglas function is 1.12. e. All of the above
Real standards of living can only go up with positive economic growth.
What will be an ideal response?
In 2012, U.S. exports of services ______ U.S. imports of services by about _____.
A. exceeded; $19B B. fell short of; $19B C. exceeded; $196 B D. fell short of; $196B