What is the unemployment rate if there are 170 million people employed, 25 million people unemployed, and 35 million not in the labor force?
A) 14.7%
B) 13.7%
C) 12.8%
D) 10.9%
C
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The situation in which a person places greater value on a good as fewer and fewer people possess it is called the
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
According to the classical view,
a. velocity is constant, which means changes in price will cause changes in price or quantity. b. quantity is constant, which means changes in the money supply could cause either changes in velocity or changes in prices. c. velocity and price are constant so that changes in the money supply causes changes in quantity. d. velocity and quantity are constant so that changes in the money supply cause changes in prices. e. velocity is constant while quantity is variable so that changes in the money supply change both price and quantity.
The result of the large tax cuts in the first Reagan Administration demonstrated very convincingly that Arthur Laffer was correct when he asserted that cuts in tax rates would increase tax revenue
a. True b. False Indicate whether the statement is true or false
The interest rate effect operates through
A. the purchasing power of individuals' checking accounts. B. government spending levels. C. labor supply. D. credit markets by changing borrowing costs.