The unemployment rate tells us:
A. what percentage of the labor force want to work and can't find a job.
B. who is being affected by the fluctuations of the economy.
C. how to solve the problem of unemployment.
D. what portion of the population is causing the economy to languish.
A. what percentage of the labor force want to work and can't find a job.
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Writing in the 18th century, Adam Smith downplayed technology as a factor contributing to a nation's economic growth
Indicate whether the statement is true or false
Two identical firms compete as a Cournot duopoly. The demand they face is P = 100 ? 2Q. The cost function for each firm is C(Q) = 4Q. In equilibrium, the deadweight loss is:
A. $512. B. $384. C. $256. D. $128.
Subprime mortgages are
A) mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgages. B) mortgages which are bundled together by financial institutions and sold to investors. C) mortgages issued to borrowers with flawed credit histories. D) government-backed mortgages issued by Fannie Mae and Freddie Mac.
According to economic theory, elected government officials will favor
A) federal budget surpluses. B) balanced federal budgets. C) federal budget deficits. D) shrinking federal budgets.