The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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Last year the CPI was 177.1 and this year the CPI was 180.9. What is the inflation rate between these two years?
What will be an ideal response?
Why is it that if an industry is operating under conditions of internal scale economies then the resultant equilibrium cannot be consistent with the pure competition model?
What will be an ideal response?
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $8, there is an excess
A. supply of 500 cheeseburgers. B. demand of 300 cheeseburgers. C. demand of 600 cheeseburgers. D. supply of 1,100 cheeseburgers.
When RBC economists compare the volatility in their models to the data, what are they looking at?
A. The amount of random variation in economic variables B. The degree to which different economic variables move together C. The strength of procyclicality of different variables D. The degree to which variables lead output over the business cycle