Discouraged workers are included in the calculation of the
i. unemployment rate.
ii. labor force participation rate.
iii. working-age population.
A) i only B) i and ii C) ii only D) iii only E) ii and iii
D
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Which of the following would be considered a transaction deposit?
A) passbook savings account B) checking account C) 401(k) retirement account D) credit card account
Average variable cost equals
A) fixed cost divided by output. B) total variable cost divided by output. C) marginal cost divided by output. D) marginal cost plus fixed cost. E) marginal cost multiplied by output.
We all use the services of speculators as information in reaching our own economic decisions
A) because speculators are aggressive about marketing the information they produce. B) because we all use prices, which are set by bids and offers based on predictions of the future. C) if we buy or sell commodities through an organized exchange. D) if we play the stock market.