During the month of May, 10 million workers moved from being classified as "unemployed" to being classified as "employed." As a result
A) the unemployment rate rose.
B) the labor force participation rate fell.
C) the unemployment rate fell.
D) the labor force participation rate rose.
Answer: C
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Which of the following statements is TRUE about the public debt and future generations?
A) Future generations will always be worse off because they will have to pay off the public debt. B) Increased consumption today will lead to increases in the capital stock in the future. C) Future generations may be better off if the rate of return on the borrowed funds is higher than the interest rate paid to foreign residents. D) The public debt cannot be held by foreign residents therefore we really owe the debt to ourselves.
If the price index is now 120, it means:
a. prices are 120 percent higher than in the base year. b. prices are 20 percent higher than in the base year. c. prices are 1.2 percent higher than in the base year. d. nominal GDP will be less than real GDP.
The lower left-hand corner of a graph where the two axes meet is called the graph’s origin.
Answer the following statement true (T) or false (F)
Suppose a small closed economy has GDP of $5 billion, consumption of $3 billion, and government expenditures of $1 billion. Then investment and national saving are both $1 billion
a. True b. False Indicate whether the statement is true or false