Empirical evidence suggests that, when unemployment benefits run out, the probability that an unemployed person will find a job
A) remains constant.
B) goes down by 20 percent.
C) about doubles.
D) about triples.
C
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"When a person is more productive in producing a good or service than another person, the first person has the comparative advantage in producing the good." Is this assertion correct or incorrect? Explain your answer
What will be an ideal response?
Under a pure gold standard
A) the dollar is tied to gold and all other currencies are fixed relative to the dollar. B) all foreign exchanges involve gold for goods and services. C) all currencies are defined in terms of gold and these rates are fixed. D) all trade involves government agencies.
The upward-sloping short run aggregate supply curve shows the ___________ relationship between the price level and the level of real GDP in the short run.
a. positive b. negative c. neutral d. bi-modal
Sales of intermediate goods and services (goods and services purchased for further reprocessing and resale) are excluded from GDP to avoid the problem of double counting, which is counting an item's value more than once
Indicate whether the statement is true or false