Which of the following is not a characteristic of less-developed countries?
a. High rates of illiteracy.
b. High unemployment.
c. Over half of the labor force in agriculture.
d. Low savings and investment rates.
e. Low infant mortality rates.
e
Economics
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The key feature due to which unexpected inflation decreases the unemployment rate is that:
a. expectations are formed irrationally. b. reservation wages of workers are fixed. c. workers behave irrationally. d. firms are greedy. e. government policy is time consistent.
Economics
If the cyclical deficit shrank by $60 billion while the structural deficit increased by $35 billion, the total deficit
A. Grew by $95 billion. B. Fell by $60 billion. C. Grew by $25 billion. D. Fell by $25 billion.
Economics