Which of these conclusions does the graph U.S. Unemployment by Sex and Age support?
a. The U.S. Department of Labor does not differentiate the gender of teenagers when
reporting unemployment figures.
b. The unemployment rate for adults 20 or older is less than that of the total population.
c. The percentage of unemployed teenagers is overreported because it exceeds the
combined percentages of unemployed men and women.
d. The U.S. Department of Labor does not count teenagers as part of the total
population when reporting unemployment figures.
b. The unemployment rate for adults 20 or older is less than that of the total population.
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In the 1960s, many economists and policymakers believed the trade-off between inflation and unemployment was permanent
Indicate whether the statement is true or false
We don't typically see wages ________ in response to an economic downturn because ________.
A. fall; they are "sticky" and are slow to respond to shifts in the economy B. fall; they cannot fall below where they were previously set due to inflation C. rise; they cannot rise above the equilibrium in any circumstance D. rise; they are "sticky," and are slow to respond to shifts in the economy
Implicit costs
A. Include the value of all resources used to produce a good. B. Are the sum of actual monetary payments made for resources used to produce a good. C. Include only payments to labor. D. Are the value of resources used, for which no monetary payment is made.
If you take out a bank loan prior to unanticipated inflation:
A. it will be harder for you to repay the loan because of the inflated dollar. B. you will gain at the expense of your bank. C. your bank will gain at your expense. D. neither you nor your bank will be affected, because the loan was made prior to the inflation.