Official unemployment rate statistics may
A. understate the amount of unemployment by excluding part-time workers in the calculations.
B. overstate the amount of unemployment by including part-time workers in the calculations.
C. overstate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment.
D. understate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment.
Answer: D
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Unequal incomes arise from
a. discrimination. b. luck. c. different schooling. d. all of the above factors.
During a certain year, the nominal interest rate was 8 percent, the real interest rate was 3 percent, and the CPI was 176.7 at the beginning of the year. The CPI at the end of the year was
a. 196.1. b. 185.5. c. 168.3. d. 159.2.
In the long run the real interest rate is determined by ________, and in the short-run the Federal Reserve can control the real interest rate by setting the nominal interest rate if inflation adjusts ________.
A. the Federal Reserve; slowly B. the Federal Reserve; to equal the increase in the money supply C. saving and investment; slowly D. saving and investment; quickly
To facilitate the international comparisons of living standards around the world, adjustments are supposed to be made to each country's GDP. These adjustments require:
A) each country's GDP should be multiplied by its general price level B)there is no need for adjustments since, each country's GDP is the representative of its standard of living C) calculating each country's GDP in terms of U.S. dollar, dividing it by the general price level and, subtracting the previous year's value of the country's GDP from it. D) converting each country's GDP to US dollars' dividing it by the country's population and, to adjust the resulting figure for the purchasing power parity.