From 1980 to 2000 the labor force participation rate generally ________ and from 2000 to 2014 the rate generally ________
A) increased; decreased
B) decreased; decreased
C) increased; increased
D) decreased; increased
A
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Read the following statements and determine if they are true or false
I. According to the quantity theory of money, an increase in the growth rate of the quantity of money increases inflation in the long run. II. Historical and international data show that there is no correlation between inflation and money growth. A) I and II are both true. B) I and II are both false. C) I is true and II is false. D) I is false and II is true.
Expansionary fiscal policy consists of:
a. increased government purchases and increased taxes. b. decreased government purchases and decreased taxes. c. decreased government purchases and increased taxes. d. increased government purchases and decreased taxes.
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
If an economy is represented by a point along its production possibilities curve:
A. it can produce more of one product even if it does not produce less of another product. B. it can produce more of one product only if it produces less of another product. C. it cannot produce more of one product unless it stops producing the other product entirely. D. it cannot possibly produce more of one product, even if it produces less of another product.