The ________ is the number of unemployed divided by the labor force and the ________ is the number of employed divided by the adult population.
A. unemployment rate; employment ratio
B. discouraged worker ratio; employment rate
C. unemployment rate; employment rate
D. unemployment ratio; participation rate
Answer: A
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The long-run aggregate supply curve
a. is vertical b. is upward sloping c. is downward sloping d. is horizontal e. can have a variety of shapes depending on fiscal policy
The Federal Trade Commission
a. was abolished by the Celler-Kefauver Act b. was established when the Antitrust Division of the Justice Department was eliminated c. largely deals with telephone and utility regulation d. is a weak and ineffective government agency e. investigates unfair and deceptive trade practices
What does a balance of trade deficit imply?
a. exports of goods and services exceed imports of goods and services b. imports of goods and services exceed exports of goods and services c. investment income received from abroad exceeds investment income paid to foreigners d. investment income paid to foreigners exceeds investment income received from abroad e. investment by foreigners exceeds domestic investment in other countries
Export subsidies are:
A. maximum limits on the quantity or total value of specific products imported to a nation. B. excise taxes or duties placed on imported products. C. licensing requirements, unreasonable quality standards, and the like designed to impede imports. D. government payments to domestic producers to enable them to charge lower prices and sell more goods in world markets.