In a closed economy, national saving equals
A) C + I + G.
B) Y - C - G.
C) Y - C - I.
D) Y - G - I.
B
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The labor force participation rate is calculated as the
A) labor force divided by the number of persons employed then multiplied by 100. B) number of persons unemployed divided by the labor force then multiplied by 100. C) labor force divided by the unemployment rate then multiplied by 100. D) labor force divided by the working age population then multiplied by 100.
Technological change that makes it easier to produce in a "cleaner" fashion would cause
A) the marginal cost curve of pollution abatement to shift left, increasing the degree of air quality. B) the marginal cost curve of pollution abatement to shift right, increasing the degree of air quality. C) the marginal benefit curve of pollution abatement to shift right, increasing the degree of air quality. D) the marginal benefit curve of pollution abatement to shift left, increasing the degree of air quality.
In the production of corn, millions of farmers world-wide are ________, so there is ________ on economic profits to go to zero.
A. oligopolists; pressure B. monopolists; no pressure C. perfect competitors; pressure D. oligopolists; no pressure
In the years after the Great Recession, the inflation rate has been
A. volatile. B. diminishing over time. C. stabilized at 0. D. relatively low.