Teenage unemployment rates tend to be substantially higher than the overall unemployment rate
a. True
b. False
Indicate whether the statement is true or false
True
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If the multiplier is 4, equilibrium real GDP is $600 billion, and investment is $25 billion, what will happen if investment increases to $30 billion? Real GDP will:
a. increase to $605 billion b. decrease to $595 billion c. increase to $620 billion d. increase to $624 billion e. decrease to $580 billion
An increase in the stock of capital: a. causes a movement from a point on an economy's production possibilities curve to a point inside the curve. b. causes an economy's production possibilities curve to shift inward over time
c. causes an economy's production possibilities curve to shift outward over time. d. has no effect on the position of an economy's production possibilities curve over time.
If an economy is at equilibrium, it will also be operating at full employment
a. True b. False
The basic idea behind the 1996 changes in the welfare program was to
a. eliminate poverty in the United States b. eliminate the idea that welfare was an entitlement c. create a new class of workers in the United States d. eliminate the food stamp program e. provide the poor with jobs