In 2006, before the start of the recession, the employment-population ratio was 63.4 percent. In August 2015, more than six years after the end of the recession, the ratio
A) was still 50 percent lower than the ratio in 2006. B) had increased to 72.3 percent.
C) was still only 59.4 percent. D) was back to its 2006 level.
C
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Which of the following statements is false? In the circular flow model:
A) the funds needed to finance investment spending come from the saving of households. B) GDP can be measured either by the income received or by the expenditures made. C) factor payments are made to business firms. D) consumption expenditures are made by households.
Economists say that a firm has a normal profit when:
a. it earns a return of at least 10 percent. b. its accounting profit is positive. c. it can pay all its variable costs. d. its economic profit is zero.
Which of the following statements is correct, when the exchange rate changes from €2/$ to €1.5/$?
a. The euro appreciates and the dollar depreciates. b. The euro (€) depreciates. c. The dollar ($) appreciates. d. Both the euro and the dollar appreciate. e. The euro depreciates and the dollar appreciates.
Figure 9-2
The economy depicted in is experiencing
a.
an abnormally high rate of unemployment.
b.
an abnormally low rate of unemployment.
c.
its natural rate of unemployment.
d.
an output that cannot be sustained.