The statement "the unemployment rate is 5.1%" is an example of a
A. normative statement.
B. non-verifiable statement.
C. positive statement.
D. value judgement.
Answer: C
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Using the information in the table above, calculate the unemployment rate
A) 53.3 percent B) 30.8 percent C) 13.3 percent D) 7.7 percent
The time inconsistency of policy implies that
a. what policymakers say they will do is generally what they will do, but people don't believe them because of current policy. b. when people expect that inflation will be low, it is harder for the Fed to increase output by increasing the money supply. c. people will believe Fed policy will be more inflationary than the Fed claims. d. what policymakers say they will do is usually not what they do, but people believe them anyway.
A deficit in the financial account means:
a) the nation has imported more assets than it exported b) the nation has exported more assets than it imported c) the nation has invested more than it saved d) the nation has produced more than it consumed
One way that quantitative easing can work is through depreciation of the country's currency.
Answer the following statement true (T) or false (F)