Which of the following statements is true?
A) Adult males, adult females, and teenagers all have similar rates of unemployment due to job losses.
B) Almost half of the total teenage unemployment rate appears to be due to the search for the first job.
C) Relative to adult males, adult females and teenagers have more frequent unemployment due to reentry and higher quit rates.
D) All of the above.
D
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Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the
A. demand for oranges will necessarily rise. B. price of oranges will fall. C. equilibrium quantity of oranges will rise. D. supply of oranges has declined.
In the long run, the effect of a reduction in the money supply is to
A) decrease both the price level and real Gross Domestic Product (GDP). B) decrease real Gross Domestic Product (GDP) only. C) decrease the price level and increase real Gross Domestic Product (GDP). D) decrease the price level only.
The price elasticity of supply for toys is 0.36, so that a 1 percent increase in price would generate a
a. 0.36 percent increase in quantity supplied b. 3.60 percent increase in quantity supplied c. 0.36 percent decrease in quantity supplied d. 3.60 percent decrease in quantity supplied e. 1.36 percent increase in quantity supplied
In recent years, net interest on the national debt paid by the federal government as a percentage of GDP is equal to approximately:
a. 1 percent. b. 25 percent. c. 6 percent. d. 3 percent.