Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a
a. monthly survey of about 60,000 households.
b. monthly survey of about 6,000 households.
c. weekly survey of about 60,000 households.
d. weekly survey of about 6,000 households.
a
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The unemployment rate is interpreted as the percentage of the
A. able-bodied population who are not working. B. labor force that are not employed. C. workforce that have been laid off. D. adult population who are unemployed.
Refer to Figure 15-13. In the figure above, if the economy in Year 1 is at point A and is expected in Year 2 to be at point B, then the appropriate monetary policy by the Federal Reserve would be to
A) lower income taxes. B) raise interest rates. C) raise income taxes. D) lower interest rates.
Suppose that nominal GDP in 2016 was less than real GDP in 2016. Given this information, we know for certain that
A) real GDP in 2016 was greater than real GDP in the base year. B) the price level in 2016 was less than the price level in the base year. C) real GDP in 2016 was less than real GDP in the base year. D) the price level in 2016 was greater than the price level in the base year.
The industrialized group of countries has growth rates that are consistent with the findings of the economic growth model
That is, Taiwan, Korea, and Singapore had ________ incomes in 1960 than the United States and Switzerland, and Taiwan, Korea, and Singapore grew ________ than the United States and Switzerland between 1960 and 2010. A) lower; more rapidly B) greater; more rapidly C) greater; less rapidly D) lower; less rapidly