After the harvest, some farmhands lose their jobs. They are considered to be
A. Structurally unemployed.
B. Cyclically unemployed.
C. Frictionally unemployed.
D. Seasonally unemployed.
Answer: D
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A decrease in U.S. federal government budget deficits that lowers U.S. interest rates relative to the rest of the world should
A) decrease net exports. B) increase foreign portfolio investment. C) lead to a current account surplus. D) lower the trade balance. E) cause the dollar to appreciate.
For most macroeconomists
A) gross national income and gross national product are the same. B) gross national income exceeds gross national product. C) gross national product exceeds gross national product. D) it is hard to tell whether gross national income equal gross national product. E) gross national product is much more important than gross national income.
A shortcoming of national income accounting is that it ignores: a. the depreciation of manufactured capital
b. spending by poor households who are receiving government transfer payments. c. spending on intermediate goods. d. the depletion of natural resources. e. U.S. products that are sold overseas.
Suppose that in some tax year you earned a nominal interest rate of 6 percent. During the time you held these funds inflation was 1 percent. You compute that you made a real after-tax interest rate of 3 percent. What was your tax rate?
a. 40 percent. b. 33.3 percent. c. 25 percent. d. 50 percent.