Suppose a nation has a total population of 50,000,000. Out of that, 50% are in the labor force and 23,000,000 people are employed. What is the nation's unemployment rate?
A) 4.0%
B) 8.0%
C) 12%
D) 14%
B
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The tastes for foreign goods and services generally has a ______ relationship with aggregate expenditure.
A. negative B. positive C. skewed D. constant
Balanced across the board, U.S. income growth characterizes the period of the:
A. entire 20th century. B. 1960's to 1990's. C. mid 1940's to the early 1970's. D. 1980's to the present.
What are the main features of the Hart-Scott-Rodino Act?
What will be an ideal response?
Effectively managing aggregate demand in order to stabilize nominal GDP requires
A) policy makers to know the size of the gap between current demand and demand at equilibrium. B) only that policy makers know what level of aggregate demand is necessary for full employment. C) successful economic forecasting. D) that nominal GDP be the same as real GDP. E) very little information about the economy because the market system is an efficient generator of high-quality information.