Assume that the full-employment level of output is $5000 billion and the natural unemployment rate is 5%. Suppose the current unemployment rate is 8%
What would be the current level of output according to Okun's law (when the Okun's law coefficient is 2)? A) $4500 billion
B) $4700 billion
C) $4900 billion
D) $5000 billion
B
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The statement, "My Hello Kitty Limited Edition Vespa scooter is worth $5,500" represents money's function as a
A) medium of exchange. B) store of value. C) standard of value. D) commodity.
According to the signaling theory of education,
a. schooling sends signals to employers in much the same way that advertising sends signals to consumers. b. a person becomes more productive by earning a college degree. c. education is less important than natural ability. d. All of the above are correct.
Refer to the above figure. Demand will be unit-elastic when quantity is between
A. 0 and A. B. 0 and B. C. A and B. D. B and C.
Diversifiable risk refers to risk:
A. faced by a portfolio in general. B. that can be reduced with appropriate fiscal and monetary policy. C. posed by business cycle fluctuations. D. specific to a particular investment.