The U.S. unemployment rate has averaged around ______ since 1950.
A. 8%
B. 10%
C. 6%
D. 3%
Ans: C. 6%
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Suppose the current account of a country is in balance and the official settlements account equals 0. A new transaction occurs so that the current account is now in surplus, but the official settlements account does not change
From this we know that A) the balance of trade is now in surplus. B) the government is running a budget deficit. C) the capital and financial account is now in deficit. D) the government must make official reserve transactions.
Using the expenditure approach, total spending by households for durable goods, nondurable goods, and services is a category called:
a. gross private domestic investment. b. capital consumption allowance. c. personal consumption expenditures. d. household investment.
Improvements in the level of technology will generally shift the production function downward.
Answer the following statement true (T) or false (F)
(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. Refer to the given information. If demand changed from P =
10 - .2Q to P = 7 - .3Q, the new equilibrium price is: A. $2. B. $4. C. $6. D. $7.