Inflation and unemployment are examples of macroeconomic topics
a. True
b. False
A
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Prisoners in World War II POW camps traded products for other products, a process referred to as
A) central planning. B) advantage exchange. C) barter. D) rationing.
If a large number of individuals file unemployment claims while working in the underground economy: a. the unemployment rate overstates the level of unemployment
b. the unemployment rate understates the level of unemployment. c. the accuracy of the unemployment rate is not affected. d. discouraged worker statistics will underestimate the true state of frustration by job seekers.
The impact of an increase in oil prices stemming from the growth of demand is probably going to ____ the wages of petroleum engineers
a. decrease b. increase c. leave unaffected d. be impossible to predict
A law establishing a maximum legal price for a good or service is known as
a. an equilibrium price. b. a price floor. c. a price ceiling. d. a price wall.