Assume that the population is 200 million, the labor force is 100 million, and 90 million people are employed. Then, the unemployment rate is
A. 4.5%.
B. 5%.
C. 9%.
D. 10%.
D. 10%.
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If an economy tried to use bananas as money, which function would bananas likely have the most difficult time fulfilling?
A) a store of value B) a unit of account C) a medium of exchange D) a means of payment
If there is a combination of strategies in which each player's action is the best response to the actions of other players, then there is
A) a Boyes equilibrium. B) an unstable equilibrium. C) a complementary equilibrium. D) a Nash equilibrium.
Because the United States has a flexible exchange rate system, one would expect that
a. U.S. exports and imports would be in balance. b. the U.S. current account would be in balance. c. U.S. exports to China would be in balance with U.S. imports from China. d. all of the above are true. e. none of the above are true.
If the MPC is 0.5, then the spending multiplier must be:
A. 2.25. B. 2.5. C. 2. D. 1.2.