Looking over the last six decades since 1950, how did the average U.S. unemployment rate during the 2000s compare to the other five decades?
What will be an ideal response?
The average unemployment rate during the 2000s was essentially tied for the second highest decade-average unemployment rate for the five decades since 1950. The decade-average unemployment rate during the 2000s was higher than the average unemployment rates during the 1950s, 1960s, and 1990s. It was basically tied with the decade average unemployment rate during the 1970s and was lower the highest decade average unemployment rate during the 1980s.
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Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A
A) decreases the supply of good B. B) increases the supply of good B. C) decreases the demand for good B. D) increases the demand for good B.
Demand for staples such as dairy products and bread is likely to be both income and price inelastic
Indicate whether the statement is true or false
The marginal rate of substitution between goods A and B measures the price of A relative to the price of B
a. True b. False Indicate whether the statement is true or false
A fiscal policy cure for inflation might include
A. Infrastructure development. B. An increase in the reserve requirement. C. A reduction in government spending. D. Reductions in marginal tax rates for corporations and households.