If the adult population of a country is 200 million and its labor force is 140 million, then its labor-force participation rate is 60%
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 3-2. A technological advancement would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
The value of real GDP in the current year equals
A) the value of current-year output in prices of the base year. B) the value of current-year output in prices of the current year. C) the value of base-year output in prices of the base year. D) the value of base-year output in prices of the current year.
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers select the most profitable trees to harvest even when they are not paying per tree felled c. Drivers of heavier, safer cares are more likely to run stop signs d. workers on commission work harder than those paid an hourly wage
In 2006 and 2007 the U.S. faced an inflationary gap which would suggest the use of restrictive fiscal policy
a. True b. False Indicate whether the statement is true or false