Refer to Exhibit 6-2. How many unemployed persons are there in year 3?
a. 50 million
b. 100 million
c. 150 million
d. 350 million
e. 400 million
Answer: c. 150 million
You might also like to view...
Which of the following is counted as money?
a. Bonds b. Credit card payments c. Credit card limits d. Currency e. Corporate stock
Which of the following will most likely occur during the expansionary phase of a business cycle?
a. Real GDP declines, and the rate of unemployment increases. b. Real GDP declines, and the rate of inflation is unchanged. c. Real GDP increases, and rate of unemployment falls. d. Real GDP is unchanged, and the rate of inflation is unchanged.
Marginal cost is the minimum price that producers must receive to induce them to produce another unit of a good or service
Indicate whether the statement is true or false
In the health insurance market, moral hazard occurs when
A) chronically ill people buy insurance. B) insured people go to the doctor unnecessarily. C) patients sue their doctor. D) chronically ill people refuse appropriate medical treatment.