If the Fed tries to lower the unemployment rate so it is lower than the natural unemployment rate, before the expected inflation rate changes, the inflation rate ________ and the unemployment rate ________

A) does not change; falls
B) falls; falls
C) rises; does not change
D) falls; rises
E) rises; falls


E

Economics

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According to this Application, by using a value-added approach to measure Wal-Mart's sales impact on the economy, we are

A) including GDP as a measure of welfare. B) using a chain-weighted index. C) avoiding double-counting. D) excluding the net foreign sector.

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In a country with a working-age population of 22 million, 16 million are employed, 2 million are and 1 million of the employed are working part-time, half of whom wish to work full-time. The employment-to-population ratio is

A) 65 percent. B) 57.5 percent. C) 72.7 percent. D) 75.5 percent. E) none of the above.

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If the demand curve facing a firm had a price elasticity of demand equal to infinity and the firm raised its price, its total revenue would:

A. decrease slightly. B. fall to zero. C. not change. D. increase.

Economics

Sole proprietorships produce more goods and services than does any other form of business organization

a. True b. False

Economics