Refer to Exhibit 6-2. How many persons are not participating in the labor force in year 3?
a. 50 million
b. 100 million
c. 150 million
d. 350 million
e. 400 million
Answer: b. 100 million
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Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from S1 to S2. The amount of the tax paid by the consumer is
A. $2.25. B. $0. C. $1.00. D. $1.25.
Give examples of factors that decrease aggregate demand. Which way does the aggregate demand curve shift?
What will be an ideal response?
Tariffs and quotas are used to promote trade with foreign countries
Indicate whether the statement is true or false
Estimates of U.S. job gains and losses due to free trade agreements
A) show no change in jobs. B) show clear gains in the number of jobs. C) show clear losses in the number of jobs. D) show mixed results, leading to no clear conclusion.