In the United States, the average length of time people spend unemployed is
A) approximately one month.
B) between two and three months.
C) between ten and eleven months.
D) greater than twelve months.
B
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Suppose that, a country with a closed economy opens itself to international trade and becomes a net exporter. In that case, the price of that good will ________ when the economy goes from closed to open for trade.
A. increase B. decrease C. first decrease then increase D. stay the same
Demand-side inflation is normally accompanied by
A. falling real GDP, while supply-side inflation may be accompanied by rising real GDP. B. falling real GDP; the same is true of supply-side inflation. C. rising real GDP, while supply-side inflation may be accompanied by falling real GDP. D. rising real GDP; the same is true of supply-side inflation.
Which of the following is an example of a regional currency arrangement?
A) exchange rate union B) currency cartel associations C) free-trade zones D) most-favored nation status E) agreement on commercial trade
In Figure 1 above if the economy were at Y1 then we would expect there to be:
A. no change in inventories. B. an increase in inventories. C. a reduction in inventories. D. an increase in consumption spending.