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Файл:GIFT_Macro777.docx
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- •Income must equal expenditure
- •In a simple circular-flow diagram, total income and total expenditure in an economy
- •If you buy a new snowboard from the local sporting goods store, as a result of your purchase
- •In the real economy, expenditure and income are always the same
- •In order to include many different products in a summary or aggregate measure, gdp
- •Inflation
- •Inflation
- •Introduction of new goods
- •In a market economy, scarcity of resources is reflected in
- •In a market economy, the real, or inflation adjusted, price of a resource measures its
- •If there are diminishing returns to capital
- •Increases in the capital stock increase output by ever smaller amounts
- •Is saving and the source of demand for loanable funds is investment
- •If the government currently has a budget deficit
- •65 Percent
- •In the United States in recent years, the unemployment rate among teenagers has been
- •5.5 Percent
- •If an unemployed person quits looking for work, ceteris paribus
65 Percent
In the United States in recent years, the unemployment rate among teenagers has been
more than three times that of people ages 20 and over
A rough estimate of the natural rate of unemployment is
5.5 Percent
Since World War II, the labor-force participation rate
has increased for both men and women
If an unemployed person quits looking for work, ceteris paribus
Both a and c are correct.
Discouraged workers
are counted as part of the adult population, but not as part of the labor force
The reported unemployment rate should be viewed as
a useful but imperfect measure of joblessness
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