According to Okun's Law, how does a 2 percent increase in unemployment affect the economy?
What will be an ideal response?
Okun's Law says that 1 percent more unemployment is estimated to equal 2 percent less output. As a result, a 2 percent increase in unemployment translates into a 4 percent decrease in the amount of output for the economy.
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From September 2013 to September 2014, the employment-to-population ratio increased from 58.6 percent to 59.0 percent. This change could have been the result of
A) a decrease in the working-age population. B) unemployed workers becoming part-time workers. C) unemployed workers becoming discouraged workers. D) discouraged workers starting to look for jobs again.
Figure 36-1
Which of the graphs in Figure 36-1 best illustrates the behavior of exports and imports in relation to U.S. real GDP?
A. 1 B. 2 C. 3 D. 4
Refer to Figure 16-6. If Sensei acts as a monopolist, his profit-maximizing price is ________ and the number of classes sold is ________
A) P1; Q1 B) P0; Q1 C) P0; Q0 D) P1; Q0
With regard to the Navigation Acts (1651 and later amendments), all of the following answers are true except
(a) No commodities originating from the Empire were to be shipped in any but British (including colonial) ships. (b) No commodities imported into the Empire were to be carried in any but British ships. (c) Only British subjects were allowed to be merchants in the colonies, and only British ships were to carry commodities from one English port to another. (d) There is no "except"; all of the above answers are true.