If you hear that unemployment decreased by 2 percentage points to 6 %in the past year, while the labor force participation rate remained constant, it means:
A. on a net basis, 2 out of every 10 people lost their job in the last year.
B. on a net basis, 20 out of every 1,000 unemployed persons found a job in the last year.
C. on a net basis, 2 out of every 100 people lost their job in the past year.
D. on a net basis, 4 out of every 100 unemployed persons found a job in the last year.
B. on a net basis, 20 out of every 1,000 unemployed persons found a job in the last year.
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"Increasing income tax rates will solve the Social Security time bomb issue" is an example of
A) business economic policy. B) a positive economic statement. C) marginal cost exceeding marginal benefit. D) answering the "how" question. E) globalization.
From 2007 to 2009 our current account deficit
A. has been cut in half. B. stayed about the same. C. almost doubled. D. more than tripled.
The Phillips curve describes a negative relationship between unemployment and inflation
a. True b. False Indicate whether the statement is true or false
Which of the following directs open market operations?
a. Board of Governors b. Federal Reserve Banks c. Federal Open Market Committee d. Federal Advisory Council e. Treasury Department