Economists exclude many interesting economic structures and activities from their models. What they focus on is
a. the real world as they see it
b. comparisons between the real world and their models
c. understanding how their models work and the outcomes they generate
d. the relationship between the physical economic reality and money
e. the production of real goods and how they are traded
C
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There is no evidence that odd pricing succeeds in convincing consumers that prices are lower than they really are
Indicate whether the statement is true or false
Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job
a. True b. False Indicate whether the statement is true or false
Built-in stability refers to the fact that net tax revenues vary inversely with the level of GDP.
Answer the following statement true (T) or false (F)
If the number of people classified as unemployed is 10,000 and the number of people classified as employed is 300,000, what is the unemployment rate?
A. 3.2% B. 3.0% C. 2.4% D. 1.5%