If you hear that unemployment increased in the last year by 3.5 percentage points to 8 %it means:
A. 35 out of every 100 people lost their job in the last year.
B. 35 out of every 1,000 people lost their job in the last year.
C. 8 out of every 1,000 people who want a job can't find one.
D. 80 out of every 100 people who want a job can't find one.
B. 35 out of every 1,000 people lost their job in the last year.
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The market value of final goods and services produced within a country during a period of time is called:
A. government documented production. B. gross domestic product. C. general domestic productivity. D. guaranteed direct prices.
Monique buys a new television for $795. She receives consumer surplus of $355 from the purchase. How much does Monique value her television?
A) $355 B) $440 C) $795 D) $1150
Exhibit 8-2 Demand and cost information for a monopoly Q P TC 0 40 10 1 30 15 2 20 25 3 10 40 4 0 60 The marginal revenue of the second unit of output in Exhibit 8-2 is:
A. 10. B. 20. C. 30. D. 40.
The economy is in a recession. The government enacts a policy to increase spending by $2 billion. The MPS is 0.2. What would be the full increase in real GDP from the change in government spending assuming that the aggregate supply curve is horizontal across the range of GDP being considered?
A. $6 billion B. $8 billion C. $10 billion D. $16 billion