If the employment rate is 93%, then the unemployment rate is
A. 7%.
B. 13%.
C. 97%.
D. unknown based on the information given.
Answer: A
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In the above figure, if D2 is the original demand curve for a normal good and income decreases, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
Leading and lagging indicators show the effects of economic fluctuations but coincident indicators do not
a. True b. False Indicate whether the statement is true or false
When explaining expansions and recessions, the classical model is
a. reliable b. seriously flawed c. the favorite explanatory tool of economists d. overly focused on the labor market e. sometimes accurate and sometimes not
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.