Which of the following is NOT a positive statement?
A) The unemployment rate is 5.8 percent.
B) The inflation rate for 2002 was 2.3 percent.
C) The national debt is too high.
D) The federal government budget for 2004 is $2.2 trillion.
C
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During the recessions of 2001 and 2008-09,
A) all measures of the unemployment rate (U-1 through U-6 ) increased. B) only the broader measures of the unemployment rate increased. C) only the narrower measures of the unemployment rate increased. D) the labor force participation rate for women increased. E) the labor force participation rate for men increased.
Examples of comparative advantage often begin with two countries that each produce the same two goods
Each country is then shown to have a comparative advantage in producing the good it can produce at a lower opportunity cost, and specializes in the production of the good for which it has a comparative advantage. How do these examples prove that both nations are made better off as a result of trade than they would be without trade?
Under monopsony, the marginal factor cost of a worker is equal to
A) the additional worker's wage rate only. B) the additional worker's wage rate plus the increase in the wages of all other existing workers. C) the increase in the wages of all other existing workers. D) the difference between the worker's wage rate and the lower wage rate received by workers who have already been hired.
Price decreases always increase economic efficiency
a. True b. False Indicate whether the statement is true or false