The Bureau of Labor Statistics' U-3 measure of joblessness is the official unemployment rate

When we measure the impact of exchange rate changes on a nation's trade balance, the bilateral exchange rates explain only part of the change. To assess the overall change, we need to calculate:

a. the home multilateral exchange rate, or real effective exchange rate. b. a nation's income versus income changes in the rest of the world. c. a nation's marginal propensity to consume imports. d. the movement over time of the trade balance along with long-run expectations of the exchange rate.

Which of the following is an example of a positive economic statement?

a. The minimum wage should be raised to help low-income workers b. The size of the Federal government should be reduced c. Education and income are highly correlated d. Nigeria should be given more foreign aid to foster economic development