If a large number of people are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is lower than the true unemployment rate
Indicate whether the statement is true or false
TRUE
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According to the Economic Freedom Index,
A) countries with the lowest economic freedom enjoyed the highest per capita GDP. B) countries with the highest economic freedom enjoyed the lowest per capita GDP. C) countries with the highest economic freedom enjoyed the highest per capita GDP. D) there is no relationship between economic freedom and per capita GDP.
The most comprehensive measure of aggregate output is
A) gross domestic product. B) net national product. C) the stock value of the industrial 500. D) national income.
High-powered money minus reserves equals
A) reserves. B) currency in circulation. C) the monetary base. D) the nonborrowed base.
A monopolist maximizes profits by producing where which of the following occur?
a. MC = P b. AC = P c. MC = MR d. AC = AR