A household survey is used to calculate
A) the unemployment rate.
B) the level of payroll employment.
C) both the unemployment rate and the level of payroll employment.
D) neither the unemployment rate nor the level of payroll employment.
A
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Suppose consumers save 3 percent of their incomes. If the government collects 1 dollar in taxes from each taxpayer, private saving will ________ per taxpayer
A) decrease by 97 cents B) increase by $1 C) increase by 97 cents D) decrease by 3 cents
When someone in a country buys an asset abroad, the transaction is recorded
A) in the current account. B) in the official settlements balance. C) in the financial account as a capital inflow. D) in the financial account as a capital outflow.
Any point on a country's production possibilities frontier represents a combination of two goods that an economy
a. will never be able to produce. b. can produce using all available resources and technology. c. can produce using some portion, but not all, of its resources and technology. d. may be able to produce in the future with more resources and/or superior technology.
The value of money as a means of payment:
A. depends on whether the majority of M1 is in currency or demand deposits. B. depends on the amount of money in the economy, among other things. C. is fixed once relative prices are set. D. is independent of changes in the amount of money in the economy.