Which of the following people would be considered unemployed?
A. Edna, who lost her job as a teacher and is currently searching for a new job
B. Homer, who lost his job at the power plant and is not looking for work
C. Abe, who is retired
D. Lenny, who is working part time at a fast food restaurant
Answer: A
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The rising phase of a business cycle measured by an increase in real GDP is called:
A) trough. B) expansion. C) recession. D) contraction.
A central tenet of the position against policy activism is that
A) consumption spending is highly unstable. B) consumption spending is highly stable. C) aggregate policies have little effect on consumption. D) instability in private consumption will always be offset by variations in other elements of private spending.
A study published in 2002 compiled evidence that using protectionism to save an average job in the textile and apparel industry would cost how much money per job saved?
a. $10,000 b. $50,000 c. $100,000 d. $199,000
A movement upward along the consumption function can be caused only by a(n)
a. increase in disposable income. b. decrease in disposable income. c. decrease in the price level. d. increase in the price level.