What did the 1958 Treaty of Rome establish?
(a) The European Payments Union
(b) The European Economic Community
(c) The European Coal and Steel Community
(d) The Marshall Plan
(b)
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Unemployment is a
A) flow concept. B) both a flow and a stock concept. C) stock concept. D) neither a stock nor a flow concept.
A rise in autonomous planned investment spending causes the equilibrium level of aggregate output to ________ and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
Sally Campbell is a homemaker. Last week, she was busy with her normal household chores when she was visited by the BLS and asked to describe her working status. She explained what she did and the BLS recorded her as being
a. a member of the labor force who is temporarily unemployed b. a member of the labor force who chooses not to be employed c. a member of the labor force who is underemployed d. a discouraged worker who is not a member of the labor force e. not a member of the labor force
Poor Asian countries may have per-capita GDP's that may be less than $250 . Why is this somewhat misleading for comparative purposes?
a. Most rich country GDP is nonmarket activity. b. A significant amount of poor country GDP is nonmarket activity. c. Poor countries do not use dollars. d. Poor countries have few resources.