Look at the following data: Total population = 230 million; employed persons = 80 million; unemployed persons = 8 million. The unemployment rate is approximately __________ and the employment rate __________
A) 9.1 percent; cannot be determined
B) 10 percent; is 90 percent
C) 8.2 percent; is 34 percent
D) 11 percent; is 38 percent
E) 9.1 percent; 90.9 percent
A
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Refer to Figure 28-9. A follower of the new classical macroeconomics would argue that ________ like that pursued by Paul Volcker in 1979, would result in a movement from C to A
A) expansionary fiscal policy B) contractionary monetary policy C) contractionary fiscal policy D) expansionary monetary policy
For a given growth rate in aggregate supply, slower growth in aggregate demand will lead to lower inflation
a. True b. False Indicate whether the statement is true or false
Transfer payments are government grants, subsidies, or gifts to individuals or firms.
What will be an ideal response?
With modern sector enrichment growth, inequality will
a. first rise and then fall. b. first fall and then rise. c. remain about the same. d. None of the above.