Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed is ________ and the new unemployment rate is ________
A) 100.1 million; 5.8 percent
B) 100 million; 6.1 percent
C) 94.1 million; 5.9 percent
D) 93.9 million; 6.1 percent
C
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Economic growth is a sustained expansion of production possibilities, as measured by the increase in ________ over time
A) population B) inflation C) the price level D) real GDP E) employment
When Alison, a college math professor, leaves her job at a small rural college and starts looking for a job at a large urban university, she is _____.
(A) Frictionally unemployed (B) Structurally unemployed (C) A discouraged worker (D) Cyclically unemployed
Which statement is true?
A. Foreigners are holding over $1 trillion in U.S. currency (which they have not invested in the U.S.). B. If foreigners keep buying U.S. assets, we will run out of things to sell before the year 2025. C. Within 10 years the United States will probably go bankrupt. D. None of these statements are true.