Net domestic product is equal to Gross Domestic Product minus
a. indirect business taxes
b. depreciation
c. personal taxes
d. retained earnings
e. consumption spending
B
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In the fall of 2012, more than three years after the end of the recession, the unemployment rate remained just below 8% and nearly half of the unemployed had been out of work for at least six months
Unemployment had been so high for so long, that many economists had begun speaking of the "new normal", in which unemployment rates might be stuck at higher levels for many years. If this "new normal" does materialize, these higher unemployment rates would most likely be the result of ________ unemployment. A) frictional B) cyclical C) structural D) seasonal
If the official gold value of the Australian dollar changes from 470 Australian dollars per ounce to 493 Australian dollars per ounce, we can say that the Australian dollar has appreciated in value
a. True b. False Indicate whether the statement is true or false
A perfectly inelastic supply curve is: a. upward sloping to the right
b. downward sloping to the left. c. horizontal. d. vertical.
Comparing the mobility of U.S. workers at the bottom of the income distribution to European workers in the same situation shows that U.S. workers are
a. more mobile in moving from lower to higher quintiles during their working lives b. less mobile in moving from lower to higher quintiles during their working lives c. paid more but remain at the bottom longer d. paid less and remain at the bottom longer e. more likely to leave their country (U.S.) to find work elsewhere