Workers in education, healthcare and government sectors have:
A. been hurt because the sector has been shrinking.
B. seen their incomes fall just like in manufacturing.
C. been mostly hurt from globalization.
D. benefited from globalization in terms of lower consumer prices.
Answer: D
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Based on the above table, if the current price level is 100 and the unemployment rate is 4 percent, then the
A) expected inflation rate is 8 percent. B) inflation rate is 2.8 percent. C) expected inflation rate is 2.8 percent. D) inflation rate is 8 percent. E) inflation rate is 108 percent.
The natural employment surplus ________ be used to determine the effectiveness of discretionary fiscal policy actions because ________
A) cannot; it excludes non-discretionary spending changes B) can; it includes non-discretionary spending changes C) cannot; it includes non-discretionary spending changes D) can; it excludes automatic stabilization expenditures
Explain why when the demand curve for a good is elastic, a one percent reduction in the price of the good will increase a consumer's expenditure on the good
What will be an ideal response?
Specialization in production is beneficial because
a. it allows everyone to have a job that they like. b. it permits people to expand production and achieve rates of output that would otherwise be unattainable. c. it allows everyone to be self-sufficient. d. it eliminates the need for the division of labor.