The highest unemployment rate we experienced since the Great Depression was in
A. 1973.
B. 1982.
C. 1990.
D. 2001.
B. 1982.
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Inflation targeting usually increases the uncertainty about the course of action of central banks, as perceived by the general public
a. True b. False Indicate whether the statement is true or false
Which of the following is true of productive efficiency?
a. It is a situation in which the marginal benefit from the consumption of a good declines as increments of resources are added to a certain purpose. b. It is a situation in which it is impossible to produce more of one good without decreasing the quantity produced of another good. c. It is a situation in which the mix of goods being produced represents the allocation that society most desires. d. It is a situation in which costs that were incurred in the past cannot be recovered and thus do not affect current decisions.
If the price of capital declines, the consequent output effect would be:
A. greater, the more elastic the demand for the product. B. greater, the less elastic the demand for the product. C. negative. D. of consequence only if capital and labor are used in fixed proportions.
Refer to the table below. What is the equilibrium price and quantity in this market?
The following table gives data for the market for a product.
A. $6 and 60, respectively
B. $5 and 30, respectively
C. $3 and 30, respectively
D. $30 and 3, respectively