Most economists agree that the immediate cause of the large majority of cyclical changes in the levels of real output and employment is unexpected changes in:
What will be an ideal response?
The level of total spending
You might also like to view...
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080What is the maximum a scarf would be traded for in this example?
A. 1/2 of a scarf B. 3 scarves C. 2 scarves D. 1/3 of a scarf
Which of the following happens during a recession?
A) Labor demand increases. B) The equilibrium wage rate rises. C) Labor supply falls. D) The equilibrium wage rate falls.
If the number employed is 190 million, the working-age population is 230 million, and the number unemployed is 10 million, then the unemployment rate is
A) 5%. B) 5.2%. C) 8%. D) 10%. E) 50%.
Which of the following is not an obstacle to development for many less-developed countries?
a. limited capital goods production b. lack of infrastructure c. lack of skilled workers d. dependence on exports of natural resources e. high savings rate