Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.
Answer: A
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A weakness that could be noted about the unemployment rate is that it
A) does not account for the underutilization of workers. B) considers marginally attached workers as unemployed. C) overestimates the number of part-time workers. D) does not count part-time workers. E) counts discouraged workers as employed.
Macroeconomics deals with:
A) bits and pieces of the economy. B) the question of how a business unit should operate profitably. C) the analysis of the aggregate values in the economy.
If society wants aggregate demand to increase without changes in the price level, then there must be
A. an increase in autonomous spending combined with an increase in the marginal propensity to save. B. a gap between full employment and the current level of real GDP and an increase in autonomous spending. C. an increase in autonomous spending and a horizontal short-run aggregate supply curve. D. an increase in autonomous saving so that autonomous investment spending can increase.
In what year did the federal government pass rules to set a 40-hour workweek?
A. 1979 B. 1886 C. 1938 D. The federal government has never done this.