Refer to Figure 17-8. A typical long-run Phillips curve would have the appearance of a curve running through points
A) B and C. B) A and B. C) A and C. D) A, B, and C.
A
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Increased labor demand will result in
A) lower wages. B) more employment benefits. C) higher wages. D) no change in wages.
Congress could encourage investment spending through changes in the
A. nominal interest rates. B. capital gains taxes. C. personal income deduction. D. income tax rate.
The labor force is 100 million and the unemployment rate is 5 percent. One million people quit looking for a job. What is it called when an individual leaves the labor force, and in this case what is the new unemployment rate?
A) Encouraged worker, 5 percent. B) Discouraged worker, 5.05 percent. C) Discouraged worker, 3 percent. D) Discouraged worker, 4.04 percent.
Which of the following is a true statement?
A. The United States has the world's largest ratio of exports to GDP. B. The United States is almost entirely dependent on other countries in obtaining items such as silk, nickel, tin, and coffee. C. U.S. exports to China greatly exceed U.S. imports from China. D. Since 1947 the United States has accounted for a rising percentage of total world trade.