Assuming the total population is 100 million, the civilian labor force is 50 million, and 47 million workers are employed, the unemployment rate is:
A. 3 percent.
B. 6 percent.
C. 7 percent.
D. 53 percent.
B. 6 percent.
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Suppose on any given day the prevailing equilibrium federal funds rate is below the Federal Reserve's federal funds target rate
If the Federal Reserve wishes for the federal funds rate to be at their target level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
A government's policy to lower the exchange rate is called ____________
a. an import control b. sinking a floating exchange rate c. appreciating the currency d. floating the exchange rate e. devaluation
Which of the following is true about the U.S. federal government budget for the year 1998?
A. Federal government receipts were greater than federal government spending for the first time in a generation. B. The U.S. Constitution was amended to require a balanced federal budget. C. Federal government outlays were greater than federal government receipts for the first time in a generation. D. The federal budget deficit was the largest in history.
Herbert Simon, one of the first social scientists to work at the boundary of economics and psychology, suggested that humans should be viewed not as rational maximers but as