The U.S. Department of Labor calculates the unemployment rate by
A. totaling the number of households receiving unemployment compensation.
B. analyzing federal income tax returns.
C. surveying households.
D. surveying businesses to determine patterns of hiring and layoffs.
C. surveying households.
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The CPI is reported once every
A) year. B) quarter. C) month. D) week. E) other year.
When the Fed buys $100 million of securities from a commercial bank, the
A) monetary base increases. B) money supply decreases. C) bank's reserves decrease. D) required reserve ratio decreases. E) bank is risking its depositors' money.
Suppose the equilibrium price in a perfectly competitive industry is $100 and a firm in the industry charges $112 . Which of the following will happen?
a. The firm will not sell any of its output. b. The firm will sell more output than its competitors. c. The firm's profits will increase. d. The firm's revenue will increase. e. The firm will gradually take over the entire industry.
In the three-step method, what is accomplished in step 3?
a. finding the total revenue b. finding the total cost c. finding the market price d. finding the profit-maximizing output level