If the economy was producing at point X and moved to point Y,
A. it would have moved from where the economy operates most of the time to a severe recession.
B. it would have moved from where the economy operates most of the time to a depression.
C. the unemployment rate would increase.
D. it would have moved from where the economy operates most of the time to a severe recession AND the unemployment rate would increase.
D. it would have moved from where the economy operates most of the time to a severe recession AND the unemployment rate would increase.
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Refer to Table 17-2. The marginal profit from hiring the second unit of labor is
A) $4,200. B) $1,960. C) $1,800. D) $1,450.
The forward exchange market:
a. Is the market for current delivery. b. Is the market for current deliveries but future payments. c. Handles transactions for individuals or companies who would like to reduce foreign exchange risk by locking in exchange rates now. d. Is a market with no default risk. e. Provides sufficient liquidity for any maturity and amount.
From 1973 to the early 1990s, U.S. productivity __________________.
Fill in the blank(s) with the appropriate word(s).
In Figure 5.2, the fact that real GDP is greater than nominal GDP during the 1960-1980 periods implies thatÂ
A. Per capita GDP must have increased. B. Production must have decreased during this period. C. Average price levels must have decreased during this period. D. Average price levels during this period must have been lower than during the base period.