Draw a scatter diagram of the growth rate and the unemployment rate. Describe the relationship
What will be an ideal response?
To make a scatter diagram of the growth rate and the unemployment rate, plot the growth rate on the x-axis and the unemployment rate on the y-axis. The graph will be a set of dots and is shown in Figure A1.5 . The pattern made by the dots tells us that when the growth rate increases, the unemployment rate usually decreases so there is a negative relationship.
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Answer the next question on the basis of the following national income data for the economy. All figures are in billions of dollars.Personal consumption expenditures$400Government purchases128Gross private domestic investment88Net exports7Net foreign factor income0Consumption of fixed capital43Taxes on production and imports50Compensation of employees369Rents12Interest15Proprietors' income52Corporate income taxes36Dividends24Undistributed corporate profits22Statistical discrepancy0The gross domestic product for the above economy is ________.
A. $623 B. $609 C. $592 D. $584
The great German hyperinflation during 1922-1923 can be attributed to the:
A) German government printing money to pay bills. B) absence of financial intermediaries in Germany. C) emergence of large number of monopolies in Germany. D) economic policy that restricted the import of goods into Germany.
Of the following, the riskiest assets held by commercial banks are
A) reserves. B) U.S. government bonds. C) U.S. government Treasury bills. D) loans.
Providing public goods is a(n)
A) economic function of government. B) political function of government. C) economic and political function of government. D) price system function.