Which statement is true?
A. Discouraged workers are counted by the Bureau of Labor Statistics among the unemployed.
B. If we counted the unemployed, the labor force would be much higher.
C. The Bureau of Labor Statistics compiles the unemployment rate from its survey of state unemployment insurance offices.
D. If the labor force grows while the number of unemployed stays the same, the unemployment rate declines.
D. If the labor force grows while the number of unemployed stays the same, the unemployment rate declines.
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The standard IS curve is adjusted in new Keynesian theory to account for ________
A) the forward-looking behavior of households and firms B) the difference between real and nominal variables C) changes in GDP, or Gross Domestic Product D) the impact of a rising national debt
When an employer has a right to hire anyone, but every nonunion worker hired must join the union within a certain period of time, this is
a. illegal b. a union shop c. a closed shop d. an elastic shop e. a strike
List the three major problems in using the CPI as a measure of the cost of living
Refer to the scenario above. The nominal GDP of the country in Year 1 was ________
A) $280,000 B) $2,200,000 C) $1,400,000 D) $540,000