The ________ is the total number of people aged 16 years and older (and not in jail, hospital or institutional care) while the ________ is the number of people employed and the unemployed
A) labor force; working-age population
B) labor force participation rate; labor force
C) working-age population; labor force
D) working-age population; labor force participation rate
C
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An appropriate fiscal policy response when aggregate demand is growing at a slower rate than aggregate supply is to cut taxes
Indicate whether the statement is true or false
According to the Federal Reserve, household wealth in the United States fell by more than $11 trillion in 2008
Predict the effect this decrease in wealth had on the equilibrium real wage and level of employment, and use a graph to support your answer.
If peanut butter and jelly are complements, but peanut butter and tuna fish are substitutes,
a. an increase in the price of peanut butter will increase the demand for jelly. b. an increase in the price of peanut butter will decrease the demand for jelly. c. an increase in the price of peanut butter will decrease the demand for tuna fish. d. a decrease in the price of peanut butter will increase the demand for tuna fish.
Examples of command economies are:
A. the United States and Japan.
B. Sweden and Norway.
C. Mexico and Brazil.
D. Cuba and North Korea.