The contemporary rate of unemployment that is often put forth as a benchmark high-employment level ranges from
a. 4.5 to 5 percent.
b. 4.0 to 6 percent.
c. 6 to 6.5 percent.
d. 1 to 4.5 percent.
B
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In the last three decades, air quality in American cities has improved
a. True b. False Indicate whether the statement is true or false
If leakages are less than injections, ceteris paribus:
(a) National income will increase. (b) National income will decrease. (c) National income will stay in equilibrium. (d) None of the above.
If aggregate demand shifts left, then in the short run
a. the price level and real GDP both rise. b. the price level rises and real GDP falls. c. the price level falls and real GDP rises. d. the price and real GDP both fall.
Groups of nations that grants members trade privileges are called
A) local trade protectionists. B) trade settlements. C) regional trade blocs. D) allies.