If the quantity demanded of a good is 100 units and the quantity supplied is 50 units, then the equilibrium quantity will be larger than 100 units
Indicate whether the statement is true or false
F
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The unemployment rate equals
A) (number of people without a job ÷ population)× 100. B) (number of people without a job ÷ working-age population) × 100. C) [(working-age population - number of people employed) ÷ labor force] × 100. D) (number of people unemployed ÷ labor force) × 100. E) (number of people unemployed ÷ population) × 100.
The long-run aggregate supply curve is vertical at
A. potential output. B. the actual level of nominal output. C. 100% employment of the labor force. D. the actual level of real output.
Which of the following is most likely to close a recessionary gap in the economy?
What will be an ideal response?
Which of the following are contractionary fiscal policies?
A. Decreased taxation and no change in government spending B. Increased taxation and increased government spending C. No change in taxation and increased government spending D. Increased taxation and decreased government spending