When World War II (1941–45) came,
(a) the labor force expanded by very little despite the high unemployment of 1941.
(b) unemployment was still high enough that the armed forces could be expanded and
war production expanded without a large increase in the labor force.
(c) a large increase in the labor force occurred in all categories, including men
over 65 and women.
(d) none of the above occurred.
(c)
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Macroeconomic issues include all of the following EXCEPT:
A. regulation of natural monopolies B. economic interdependence among nations C. economic growth and living standards D. inflation
Tris is shopping for pants and belts. He has a budget of $100. The price of a pair of pants is $20 and the price of a belt is $5. His marginal utility schedules are above. What combination of pants and belts does Tris buy? Explain your answer
What will be an ideal response?
Increased saving today means
a. more consumption today and in the future b. less consumption today and in the future c. more consumption today and less in the future d. less consumption today and more in the future e. more income today, but the net effect of increased income on the balance between consumption and saving cannot be determined in advance
An increase in the natural rate of unemployment shifts the short-run Phillips curve to the _____. If the central bank sees the increase in the unemployment rate, but thinks the natural rate has remained the same and so wants to reduce unemployment, it would ________ the money supply growth rate. If it maintains this money supply growth rate, eventually the short run Phillips curve will shift
_____ and unemployment will be _____. Fill in the blank(s) with correct word