State the growth rate form of Okun's Law and define the variables in the equation
What will be an ideal response?
The growth rate form of Okun's law is ?Y/Y = 3 - 2?u, where ?Y/Y is the growth rate of output, 3 is the growth rate of full-employment output, and ?u is the change in the unemployment rate.
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The largest government-run health care system in the world, with 1.7 million employees, is in
A) the United Kingdom. B) the United States. C) Japan. D) Canada.
Which of the following changes would not lead to a shift in Canada's production possibilities curve?
a. the introduction and use in Canada of more advanced technology b. a substantial emigration of Canadian workers to the U.S. c. a prolonged summer drought in Canada's Prairie Provinces that destroys 18% of Canada's wheat harvest d. a sharp increase in the number of Canadians earning advanced degrees in education, e.g., BA's, BS's, MD's and PhD's e. a change in the composition of Canada's output
Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). Now suppose the domestic government imposes a tariff increasing the domestic price to P2 in Figure (b). This tariff will cause
a. imports to fall from Q2 minus Q1 to Q4 minus Q3.
b. domestic producers to increase their production from Q1 to Q3.
c. domestic consumers to reduce their consumption from Q2 to Q4.
d. All of the above.
According to the U.S. Department of Commerce, a foreign direct investment inflow to the United States occurs whenever a foreign company acquires ____ or more of a U.S. firm.
a. 10% b. 25% c. 51% d. 100%