Nominal GDP uses current year prices to measure GDP.
Answer the following statement true (T) or false (F)
True
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Which of the following changes should make activist policy makers more confident in their capacity to make good policy recommendations?
A) structural change in the economy B) changes in multipliers C) a longer estimated lag for monetary policy D) none of the above
The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. evaluating the identified performance measures b. avoiding rewards for outcomes that are not included in the performance measures c. rewarding workers who for meet performance measures d. displaying the wealth disparities between the executives and the line workers
Which of the following resulted from the Smoot-Hawley trade bill of 1930?
a. The stock market began a steady recovery from the crash of October 1929. b. Many countries responded by imposing higher tariffs on American products, and the volume of international trade fell sharply. c. Imports decreased, while exports increased, resulting in an overall increase in GDP and tariff revenues. d. The unemployment rate, which had been rising, began to steadily decline as jobs were protected by the trade restrictions.
Which one of the following people would be counted as unemployed in Canada?
A) Ruth is a 14-year-old student and has been looking for an after-school job every day for the past month. B) Ron has quit looking because he believes that there is no work available for him. C) Simone is currently working but expects to be laid off by the end of the month, before next month's survey can be completed. D) Sarah has been looking for a job but is taking a month-long break from the job-seeking effort due to her lack of skills. E) Rebekah is a recent graduate looking for work.