The election campaign of George Bush to succeed Ronald Reagan as president was
A. hindered due to high levels of unemployment in 1988.
B. hindered by the increasing inflationary problems of the late 1980s.
C. helped by the budget surpluses generated in the last years of the Reagan administration.
D. helped by the continuing low levels of unemployment and inflation in 1988.
Answer: D
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According to the Bureau of Labor Statistics, a person who does not have a job and has not been actively looking for a job in the past four weeks is considered
A) unemployed. B) employed. C) not in the labor force. D) underemployed.
Suppose y = Ak1/3, the capital-labor ratio is $30,000 per worker, the level of total factor productivity is 400, 50% of the population works, and there are 50 million workers. Real GDP per capita is
A) $4,930.85. B) $6,212.33. C) $7,765.41. D) $9,033.96.