If all prices rise by 5 percent and money income remains constant, the new budget line will have
A) a steeper slope.
B) a flatter slope.
C) a positive slope.
D) the same slope.
D
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If 160 million people are employed, 15 million people are unemployed, and the population is 280 million people, the unemployment rate is
A) 57 percent. B) 62.5 percent. C) 8.6 percent. D) 9.4 percent. E) not possible to calculate without data on the labor force.
Government outlays include all of the following EXCEPT
A. dividend payments. B. spending on the military. C. letterhead stationery. D. electricity for the Capital Building.
A U.S. citizen buys a Japanese bond. This transaction will be entered as a
A. debit in the U.S. current account. B. credit in the U.S. current account. C. debit in the U.S. capital account. D. credit in the U.S. capital account.
________ in the United States ________ in most European countries
A) GDP per hour; is greater than GDP per hour B) Average weekly hours; are greater than average weekly hours C) The Okun Gap; is equal to the Okun Gap D) The Lucas Wedge; is greater than the Lucas Wedge E) Both A and B are true.