Which of the following statements is true of the U.S. economy in 2014, as per the records of the BLS?
A) Number of unemployed workers > number of adults out of the workforce > number of employed workers
B) Number of employed workers > number of adults out of the workforce > number of unemployed workers
C) Number of unemployed workers > number of employed workers > number of adults out of the labor force
D) Number of employed workers > number of unemployed workers > number of adults out of the labor force
B
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What are two ways in which economic growth is generally measured?
What will be an ideal response?
How might a U.S. federal budget surplus affect the balance of trade? (Assume exchange rates are stated in terms of foreign currency per U.S. dollar.)
A) A federal budget surplus raises interest rates, which raises exchange rates, and increases the balance of trade. B) A federal budget surplus reduces interest rates, which raises exchange rates, and reduces the balance of trade. C) A federal budget surplus raises interest rates, which raises exchange rates, and reduces the balance of trade. D) A federal budget surplus reduces interest rates, which reduces exchange rates and increases the balance of trade.
Use the above table. What will the price be before external costs are internalized with a tax?
A) $14 B) $13 C) $12.20 D) $1.80
Cross-elasticity of demand could be used to measure the responsiveness of the quantity demanded of swimming pools to a change in the price of picnic tables
a. True b. False Indicate whether the statement is true or false