Rick lost his job as a logistics and distribution coordinator nearly three years ago. After a long and failed search, Rick finally gives up and stops looking for a new job
Rick's decision to suspend his job search causes the unemployment rate to ________ and the labor force participation rate to ________.
A) increase; stay the same
B) increase; increase
C) increase; decrease
D) stay the same; decrease
E) decrease; decrease
E
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In 2011, real GDP in the United States was $60 per hour worked. In major European economies, real GDP averaged on $48 per hour worked. This difference is explained by the points that ________ and ________
A) Americans work the same number of hours per week as Europeans on average; Americans are less productive due to technology differences B) Americans are equally as productive as Europeans; Americans work more hours on average C) Americans take more vacations than Europeans; Americans take more sick days than Europeans D) Americans work more hours than Europeans; Americans produce more per hour than Europeans E) Americans work less hours than Europeans; Americans take less sick days than Europeans
If consumption is defined as C = 4,500 + 0.75Y, then the marginal propensity to save is 0.25
Indicate whether the statement is true or false