During a recession, unemployment
a. increases
b. decreases.
c. is equal to the natural rate of unemployment.
d. is frictional unemployment minus structural unemployment.
Answer: a. increases
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Suppose real money demand is L = 0.8 Y - 100,000 (r + ?e). If the nominal money supply is 12,000, real output is 15,000, the real interest rate is .02, and the expected inflation rate is .01, then the price level is
A) 3/4. B) 1. C) 4/3. D) 3.
Which of the following statements contradicts an upward-sloping market-supply curve?`
a. All people have backward-bending individual supply curves. b. Leisure is more enjoyable than work. c. The elasticity of labor supply is larger than the elasticity of labor demand. d. To work more means to enjoy less leisure. e. The opportunity cost of leisure decreases with an increase in wage rate.
Pollution prevention
a. has nothing in common with industrial ecology b. emphasizes the household sector c. suggests source reduction and toxic chemical use substitution as preventive goals for industry d. none of the above
In an economy, 180 million workers are employed out of a labor force of 200 million and a total population of 310 million. The unemployment rate is:
a. 3.1 percent b. 1.85 percent c. 10 percent d. 5 percent