Unemployment compensation payments:
a. fall during periods of prosperity and thus reduce federal budget deficits.
b. fall during periods of prosperity and thus increase federal budget deficits.
c. fall during recessions and thus increase the problem of unemployment.
d. rise during periods of prosperity and thus increase federal budget deficits.
e. rise during recessions and thus increase the problem of unemployment.
a
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According to the graph shown:
A. total surplus is smaller than producer surplus. B. total surplus is smaller than consumer surplus. C. producer surplus is greater than consumer surplus. D. consumer surplus is greater than producer surplus.
The presence of new goods that are of higher quality than the old goods leads the BLS to
A) update the market basket every time a new good is available. B) do nothing because at least some people still buy the old goods. C) try to separate price differences from improvements in quality. D) actually understate the cost of living when calculating the CPI. E) immediately update the reference base period used in calculating the CPI.
If fiscal policy makers increase aggregate demand in an attempt to decrease the unemployment rate below the natural rate of unemployment, then: a. the potential GDP will decrease
b. the potential GDP will increase. c. the only lasting impact of the policy is a higher price level. d. the only lasting impact of the policy is higher real GDP. e. the only lasting impact of the policy is lower real GDP.
Looking at the labor statistics of the United States from 1951 to 2002, we find that the unemployment rate for women is higher than that for men in most years
a. True b. False Indicate whether the statement is true or false