In the United States from 1929 to 1933, real GDP _____________ and the unemployment rate ________________
A. declined by 27 percent; rose to 25 percent
B. increased by 21 percent; fell to 2 percent
C. declined by 21 percent; rose to 27 percent
D. declined by 40 percent; rose to 50 percent
A. declined by 27 percent; rose to 25 percent
You might also like to view...
A tariff has one distinct advantage over a quota. It increases tax revenues to the government.
Answer the following statement true (T) or false (F)
Refer to Figure 11-9 above to solve the following problems
a. Calculate the fixed cost of production. b. Calculate the average total cost of production when the firm produces 20 units of output. c. Calculate the average variable cost of production when the firm produces 20 units of output. d. Calculate the average fixed cost of production when the firm produces 20 units of output. e. Calculate the average fixed cost of production when the firm produces 15 units of output. f. If the firm increases output from 15 to 20 units, what is the marginal cost of output?
The many goods and services that are sold below the radar, outside of official records take place in the:
A. underground economy. B. soft market. C. illegal economy. D. None of these statements is true.
When the economy goes into recession, the biggest increase in unem-ployment is _________
A. structural because jobs are lost in most states B. cyclical because jobs are lost in many industries as they cut production C. frictional because the creation of jobs slows D. the combination of structural and frictional as few new jobs are created.