Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result:
A. the official unemployment rate will fall.
B. the official unemployment rate will rise.
C. the official unemployment rate will remain unchanged.
D. the size of the labor force will increase.
C. the official unemployment rate will remain unchanged.
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Which of the following is "crowded out" by higher interest rates that can be the result of expansionary fiscal policy?
A) net exports B) private investment C) consumption D) All of the above are crowded out by higher interest rates.
Davis and Huttenback (1982) find evidence to support the claim that the colonists were overtaxed by England
Indicate whether the statement is true or false
When the economy is on the steeper part of the short run aggregate supply curve, efforts to bring inflation down with monetary policy will be ____ successful and efforts to stimulate the economy will be ____ successful
a. More; more b. More; less c. Less; more d. Less; less
If the graph shown is displaying a competitive labor market:
A. P* would represent how many people are employed in the market. B. Q* would represent the equilibrium wage. C. D would represent the workers' demand for jobs at each wage. D. Q* would represent the equilibrium number of workers in the market.