Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed is ________ and the new unemployment rate is ________.
A. 93.9 million; 6.1 percent
B. 100 million; 6.1 percent
C. 100.1 million; 5.8 percent
D. 94.1 million; 5.9 percent
Answer: D
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We are investigating the relationship among three variables. We have graphed two of them. Suppose that the variable that is not measured on the x-axis or the y-axis changes. Then, there is
A) no impact on the plotted curve because the variable is not measured on either of the axes. B) a violation of the absence of trend assumption. C) a shift in the plotted curve. D) a movement along the plotted curve. E) an omitted variable.
In the first half of 2008, food and energy costs in the United States increased. At the same time, the financial crisis slowed production as firms predicted lower profits. A ________ macroeconomist would support the use of ________
A) classical; taxes to push the economy back to full employment B) Keynesian; fiscal or monetary policy to stimulate aggregate demand C) classical; monetary policy to stimulate aggregate demand D) Keynesian; technology to push the economy back to full employment
A subsidy:
A. increases the amount that buyers pay for a good. B. reduces the amount that buyers pay for a good. C. reduces both the amount that buyers pay and the amount sellers receive for a good. D. increases both the amount that buyers pay and the amount sellers receive for a good.
Which of the following does not explain the relatively low price inflation compared to the higher wage inflation in the U.S. during the 1990s?
A) the appreciation of the dollar B) a reduction in benefits paid to workers C) an increase in the natural rate of unemployment D) a reduction in the price of oil