The unemployment rate equals
A. (labor force - employed)/labor force.
B. (employed - unemployed)/labor force.
C. labor force/population.
D. unemployed/employed.
Answer: A
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The number of people receiving Medicare is expected to grow to 74 million by the year
A) 2105. B) 2020. C) 2025. D) 2075.
In the simple Keynesian framework, declines in planned investment spending that produce high unemployment can be offset by raising
A) taxes. B) government spending. C) consumer confidence. D) business confidence.
Monetary policy decisions, such as the target growth rate in the money supply or the target level for interest rates, are set by the
a. president and congress. b. Federal Reserve Board of Governors. c. Shadow Open Market Committee. d. presidents of the Federal Reserve banks. e. Federal Open Market Committee (FOMC).
When several resources are combined in the production of a good,
a. it is easy to determine the marginal products of the various resources b. the marginal contribution of each input often cannot be observed c. allocating revenue among the various resources is easy d. there is more competition for each of the resources used e. there is less competition for each of the resources used