More than one-third of the unemployed are recent entrants into the labor force
a. True
b. False
Indicate whether the statement is true or false
True
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The Congressional Budget Office reported that federal budget deficits in the United States were likely to increase in future years, and these higher deficits might "pose a threat to the economy by crowding out business investment and threatening a
spike in interest rates." This higher budget deficit would be represented graphically by A) a shift in the supply curve for loanable funds to the right. B) a movement to the right along the supply curve for loanable funds. C) a shift in the supply curve for loanable funds to the left. D) a movement to the left along the supply curve for loanable funds.
Assume a perfectly competitive economy would use an assortment of nails that weighs a total of 100 tons. However, the economy is controlled by the government and it sets a ton limit of 100 tons. When production is complete there is only one nail that weighs 100 tons. Which of the following describes what was wrong when government did the planning?
A. Producers did not follow their personal interest in planning production. B. The government miscalculated the correct tonnage that the economy needed. C. The wishes of consumers were not represented in the producer's actions. D. All of these are true.
An increase in the price level will
A) shift the short-run aggregate supply curve to the left. B) shift the short-run aggregate supply curve to the right. C) move the economy up along a stationary short-run aggregate supply curve. D) move the economy down along a stationary short-run aggregate supply curve.
Suppose one of baseball's most ensuring records - the Pete Rose career hit total record - were on the line. Tickets to the games leading up to breaking of the record might command three times the face-value price for tickets. Economists would suggest that a scalping market would appear and it
A. would make all ticket holders and potential buys worse off. B. cause the price to fall below the face value. C. would make all ticket holders and potential buys better off (or at least no worse off). D. cause the price to fall back to the face value.