Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 40 people employed; 50 people not in the labor force. How many people are in the economy's labor force?
A) 40
B) 50
C) 90
D) 100
B
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Even when one country has an absolute advantage in all goods and another country has an absolute disadvantage in all goods, both countries can still benefit if they trade with each other
a. True b. False Indicate whether the statement is true or false
What is the difference between Nominal GDP and Real GDP?
a. Real GDP is a figure adjusted for exchange rate differences among countries. b. Real GDP is a figure adjusted for inflation. c. There is no difference at all. Real GDP is a synonym for Nominal GDP. d. Real GDP measures goods and services produced within a nation's borders, and nominal GDP measures goods and services produced by domestic resources anywhere in the world e. Nominal GDP is a better measure of a nation's economic health (i.e., standard of living) than Real GDP.
How is accountability achieved for the Federal Reserve and is it clear?
What will be an ideal response?
The textbook says that which of the following is among the key forces shaping today's economy?
A. Accounting scandals B. Socialism C. Social networking D. The evolution of financial markets