In 1991 the unemployment rate in the United States rose to 7.1 percent. This is ________ the unemployment rate reached in the depths of the Great Depression
A) about two percentage points more than
B) roughly equal to
C) about three percentage points less than
D) about half of
E) less than one-third of
E
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Assume that the full-employment level of output is $1,000 and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $1,100 and, at the price level of 100, current aggregate demand is $1,200. If the government moves the economy back to the full-employment level of output by reducing government purchases by $50, then the expenditures multiplier equals
A. 4. B. 5. C. 2. D. 10.
The total amount of money the government owes to its creditors is known as ________
Fill in the blank(s) with correct word
"As the quantity of labor hired increases, the value of marginal product stays constant as long as the wage rate is constant for all workers." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
The market structure of perfect competition exists when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of differentiated products. D) there are many producers of a homogeneous product.