The unemployment rate is found by dividing the number of unemployed people by the
A) number of working individuals, and multiplying by 100.
B) number of the working-age population, and multiplying by 100.
C) sum of working individuals plus unemployed workers, and multiplying by 100.
D) number in the labor force, and dividing by 100.
C
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The GDP deflator is
A) an index that utilizes a consumer's market basket of goods in calculating the inflation rate. B) the most general indicator of inflation since it measures changes in the prices of all goods and services in the economy. C) an index used to calculate inflation at the wholesale level. D) the least used index because it is so costly to calculate.
If all of the firms in an oligopoly successfully collude and form a cartel, then total profit for the cartel is equal to what it would be if the market were a monopoly
a. True b. False Indicate whether the statement is true or false
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
A decrease in aggregate supply will cause the price level to:
a. rise and GDP to fall. b. rise and GDP to rise. c. rise and the unemployment rate to fall. d. fall and GDP to rise. e. fall and the unemployment rate to rise.