Refer to the graph below. What events would tend to temporarily move the economy from point B2 to C2?
A. A tight monetary policy
B. A contractionary fiscal policy
C. An easy money policy
D. An increase in aggregate supply
C. An easy money policy
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Which of the following terms describes the situation in which too few or too many resources go to a specific economic activity because of external benefits or costs?
A) an technologically inefficient market B) a market failure C) a laissez-faire market D) an external market
Why do college graduates earn higher wages than non-graduates?
What will be an ideal response?
Japan and Korea use or have used many industrial policies, and they are both considered to be countries that have developed successfully. Does that mean that the industrial policies caused their successful development?
What will be an ideal response?
In a country with a working-age population of 130 million, 90 million workers are employed and 10 million workers are unemployed. What is the unemployment rate?
A) 5.0 percent B) 7.1 percent C) 7.7 percent D) 10.0 percent