Complete the following sentence. In an expansion, typically
A) unemployment increases.
B) the labour force participation rate increases.
C) the employment-to-population ratio decreases.
D) employment decreases.
E) both B and D are correct.
B) the labour force participation rate increases.
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The purchases and sales of international reserve assets such as dollars, foreign exchanges, gold, and special drawing rights (SDRs) by a nation's central bank is recorded in the _____
a. current account b. capital account c. official reserve account d. savings account
Checks received by the firm and deposited but not yet cleared represent
a. payment float b. availability float c. net float d. cash in hand e. none of these
The purpose of making assumptions in an economic model is to
A) force the model to yield the correct answer. B) minimize the amount of work an economist must do. C) simplify the model while keeping important details. D) express the relationship mathematically.
An economy has two workers, Paula and Ricardo. Every day they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. What is the opportunity cost for Ricardo to produce one computer?
A. 4 shirts B. ½ shirt C. 2 shirts D. ¼ shirt