An example of a normative statement is:
A) The rate of unemployment is 4 percent.
B) A high rate of economic growth creates more jobs for the country.
C) The federal government spends half of its budget on national defense.
D) Everyone in the country needs to be covered by national health insurance
Ans: D) Everyone in the country needs to be covered by national health insurance
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How has inexpensive broadband changed the production possibilities of video entertainment and other goods and services?
What will be an ideal response?
When MFC > MRP, a firm in a competitive market will
A) stop hiring. B) hire more workers. C) earn additional profits. D) layoff workers.
If the economy is in a recession, the Fed could:
A. buy bonds through open market operations to increase spending in the economy. B. sell bonds through open market operations to increase spending in the economy. C. increase the discount rate so banks will increase their lending in the economy. D. increase the reserve requirement to increase confidence in the financial system.
Which of the following would you need to know to calculate the unemployment rate?
a. the size of the active military b. the number of discouraged workers c. the size of the civilian labor force d. the number of workers still enrolled in high school