During recent years the U.S. unemployment rate has been substantially higher than the rate in most of the other major industrial nations.
Answer the following statement true (T) or false (F)
False
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This table shows individual demand schedules for a market.
According to the table shown, what can be said of Betty and Barney's demand for this good?
A. Betty's and Barney's demand both follow the law of demand.
B. Barney's demand follows the law of demand, but Betty's does not.
C. Betty's demand follows the law of demand, but Barney's does not.
D. Neither Betty's nor Barney's demand follows the law of demand.
If people believe that the central bank is going to reduce inflation, then
a. the short-run Phillips curve shifts right and the sacrifice ratio will rise. b. the short-run Phillips curve shifts right and the sacrifice ratio will fall. c. the short-run Phillips curve shifts left and the sacrifice ratio will rise. d. the short-run Phillips curve shifts left and the sacrifice ratio will fall.
If a country pursues its comparative advantage:
A. Prices will rise throughout the world. B. Total world population will increase. C. Market power will rise throughout the world. D. Total world output will increase.
The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries.
A. France B. the United States C. England D. Germany