If a country has a population of 300 million, 135 million people employed and 15 million people looking for work, then its unemployment rate is
A. 5%.
B. 10%.
C. 15%.
D. 35%.
Answer: B
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Which of the following would cause the demand curve for rice to shift to the left?
a. A rise in the price of rice. b. A blight that destroyed 75% of the rice harvest. c. A report claiming that the starch in rice causes heart disease. d. A tariff that doubles the price of imported spaghetti.
What three effects can alter the aggregate demand curve?
What will be an ideal response?
All of the following are devices that governments can use to achieve a more efficient allocation of resources in the presence of external benefits EXCEPT
A) vouchers. B) private subsidies. C) marketable permits. D) public provision.
Suppose the output gap is zero, and policy makers wish to reduce the inflation rate from 10 percent to 5 percent. Which of these policies seems best?
A) contractionary policies to reduce output at least 5 percent below potential output B) a convincing declaration of the inflation rate target, so that expected inflation falls to 5 percent C) no policy action; inflation will fall on its own, eventually D) no policy action; inflation will converge to its long-run rate, regardless of policy E) price and wage controls to counteract their stickiness