In the early 1930s, President Hoover told Americans that prosperity was just "around the corner." He was expressing the views of ______ economic theory.
A. Keynesian
B. demand-side
C. classical
D. supply-side
C. classical
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Economies can be organizations such as
A) households. B) individual states of the United States. C) entire countries. D) households, states, and countries.
A labor force survey in Brownland records the following data:
Employed: 189,000 Unemployed: 15,000 Not in the labor force: 84,000 a) Calculate the unemployment rate. b) Calculate the labor force participation rate.
Which one of the following is a positive economic statement?
A. An increase in the minimum wage will reduce employment for teenagers. B. The minimum wage should be increased. C. Social justice will be served by increasing the minimum wage. D. Thoughtful people oppose an increase in the minimum wage.
Which of the following is true of the relationship between disposable income and consumption?
What will be an ideal response?