If the working age population ________ and the labor force does not change, the ________
A) increases; labor force participation rate will increase
B) increases; labor force participation rate will decrease
C) increases; unemployment rate will increase
D) decreases; unemployment rate will increase
E) decreases; labor force will increase
B
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
If a society is operating at a point inside its production possibilities frontier, then this society's
A) resources are being inefficiently utilized. B) production possibilities frontier will shift rightward. C) resources are being used in the most efficient manner. D) economy will grow too fast.
The Bureau of Labor Statistics (BLS) reports the CPI ________
A) every month B) every two months C) every three months D) every year E) twice each month
Import restrictions create an incentive to smuggle.
Answer the following statement true (T) or false (F)