Suppose the unemployment rate remained unchanged at 10 percent from 1999 through 2001 . We can conclude that
a. the same 10 percent of the people in the economy were out of work during the 1999–2001 period
b. one of every 10 people in the labor force was unemployed during the 1999–2001 period
c. the same 10 percent of the people in the labor force were out of work during the 1999–2001 period
d. people in the labor force were out of work for 10 percent of the 1999–2001 period
e. 10 percent of the people in the economy were out of work for 10 percent of the 1999–2001 period
B
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In the second quarter of 1995, the following values were observed: real GDP = 4,359.3 billion; GDP deflator = 325.1; and M1 = 989.5. What is the value of velocity?
A. 32.51 B. 24.31 C. 14.32 D. 2.31
Ceteris paribus, if average prices in the U.S. economy fall, then the
A. Foreign trade effect will lead to a lower quantity of U.S. output demanded. B. Cost effect will lead to a higher quantity of U.S. output demanded. C. Real balances effect will lead to a lower quantity of U.S. output demanded. D. Interest rate effect will lead to a higher quantity of U.S. output demanded.