The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force is 150 million. The number of unemployed workers in this economy is:
a. 24 million
b. 6 million
c. 12 million
d. 9 million
d. 9 million
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During a recession, policy makers who use the AS/AD model would probably recommend an open market:
A. purchase of government securities that raises interest rates. B. sale of government securities that reduces interest rates. C. sale of government securities that raises interest rates. D. purchase of government securities that reduces interest rates.
A nondiscriminating pure monopoly is generally viewed as being ________.
A. productively efficient, but not allocatively efficient B. both productively and allocatively efficient C. allocatively efficient, but not productively efficient D. neither productively nor allocatively efficient
Which of the following tariffs resulted in worldwide retaliation against the United States during the Great Depression?
A) the Chicken tariff B) the Pasta Tariff C) the Smoot-Hawley tariff D) the Tariff of Abominations
A balance sheet
A) measures flows of income and expenditure over a given period of time. B) equates flows of revenue with flows of expenditure. C) measures assets, liabilities, and net worth at a giving instance in time. D) None of the above are correct.