In 2006, before the start of the recession, the employment-population ratio was 63.4 percent. In August 2015, more than six years after the end of the recession, the ratio
A) was still 50 percent lower than the ratio in 2006. B) had increased to 72.3 percent.
C) was still only 59.4 percent. D) was back to its 2006 level.
C
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Refer to Figure 4-3. What area represents the deadweight loss at the equilibrium price of P1?
A) C + E B) C + E + H C) G + H D) There is no deadweight loss at the price of P1.
If the Federal Reserve wanted to expand the money supply in order to increase output, it should
a. sell government bonds, which will increase the money supply; this will cause interest rates to fall and aggregate demand to rise. b. buy government bonds, which will increase the money supply; this will cause interest rates to fall and aggregate demand to rise. c. increase the discount rate, which will raise the market rate of interest; this will cause both costs and prices to rise. d. decrease taxes, which will reduce costs and cause prices to fall.