Which of the following statements is incorrect?
a. Job losers typically account for 50 to 60 percent of the unemployed
b. Unemployment rates in the United States during the Great Depression exceeded 50 percent.
c. The labor force participation rate is the percentage of the non-institutional population over age 16 that is in the labor force.
d. The increase in the labor force participation rate since 1950 can be partly attributed to the entry of baby boomers into the labor force.
b
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The LM curve represents combinations of income and interest rate which
A) clear the goods market. B) achieve the external equilibrium. C) clear the money market. D) achieve internal equilibrium.
If the money wealth, interest rate, and international effects reduce the quantity of aggregate demand by 3 percent when the price rises by 6 percent and the multiplier is 2, then the slope of the aggregate demand curve is:
A. ?3. B. ?2. C. ?1. D. ?1/2.
The sign of the price elasticity coefficient for a normal good will:
A. always be negative. B. always be positive. C. be positive if demand is elastic but negative if demand is inelastic. D. be positive if demand is inelastic but negative if demand is elastic.
Checking accounts that pay interest are included in the
A) "other checkable deposits" part of M1. B) "savings deposits" part of M2. C) "demand deposits" part of M1. D) "money market mutual funds deposits" part of M2.