Which of the following groups would have the lowest unemployment rates?
a. high-school dropouts
b. married men
c. nonwhite teenagers
d. nonwhite women
b
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Assuming that the government cannot act immediately and the multiplier takes effect, ultimately creating an expansionary gap of $10 billion dollars. To close this gap, government purchases must be:
A. increased by more than $10 billion. B. increased by $10 billion. C. decreased by less than $10 billion. D. decreased by $10 billion.
What is meant by the term "the natural rate of unemployment"?
What will be an ideal response?
Suppose there is an unusually large crop of apples this year. How might this affect the market for apples?
A. The demand would increase, increasing both equilibrium price and quantity. B. The supply would increase, decreasing equilibrium price and increasing equilibrium quantity. C. The demand would decrease, decreasing both equilibrium price and quantity. D. The supply would decrease, increasing equilibrium price and decreasing equilibrium quantity.
The figure above gives your budget line for magazine and CDs per month. Given that your income equals $60 per month, what is your real income in terms of CDs?
A) 3 CDs B) 5 CDs C) 6 CDs D) $60/month