Which of the following unemployment types is the major concern of macroeconomics?
a. Structural unemployment
b. Cyclical unemployment.
c. Underemployment
d. None of the above.
e. Seasonal unemployment.
.B
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Suppose real GDP is currently $12.5 trillion and potential real GDP is $13 trillion. If the president and Congress increased government purchases by $500 billion, what would be the result on the economy?
What will be an ideal response?
A goal of contractionary monetary policy is to:
A) decrease the rate of growth of real GDP. B) increase the rate of growth of real GDP. C) increase inflation. D) none of the above.
In the United States, the fact that the gap between the rich and the poor has been increasing is often justified by economists on the grounds that greater
a. efficiency can never be achieved without greater inequality. b. inequality does not create any problems. c. inequality is a desirable end in itself. d. inequality is an undesirable consequence of greater efficiency. e. efficiency should be achieved at any cost.
When MB = 300 ? 12Y and TC = 12Y + 108, the optimal level of Y is:
A. 24. B. 25. C. 4.5. D. 8.