The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey
a. True
b. False
Indicate whether the statement is true or false
True
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The arguments of Friedman and Phelps would suggest that other things the same, a country that pursues a disinflationary policy that the public does not find completely credible
a. should not see an increase in the unemployment rate even in the short run. b. will having rising unemployment for a while, but then return to the natural rate of unemployment. c. will have a permanently higher unemployment rate. d. None of the above is suggested by the arguments of Friedman and Phelps.
Why does monopoly necessarily reduce consumer surplus compared to perfect competition?
What will be an ideal response?
If real disposable income increases, the average propensity to consume will
A. increase. B. initially increase, and then decrease. C. decrease. D. remain constant.
In the event of deflation, or negative inflation, then
a. real GDP is always lower than nominal GDP. b. real GDP is always lower than nominal GDP after the base year. c. real GDP is always lower than nominal GDP. d. real GDP is always higher than nominal GDP before the base year. e. None of the above