"Bad news" about an expenditure-related indicator means that
A) it is lower than its previous value.
B) it is lower that it was expected to be.
C) it is higher than it was expected to be.
D) it rose more slowly than the rate of inflation.
B
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Refer to Table 20-1. The unemployment rate for this simple economy equals
A) (100/1,000 ) × 100. B) (100/15,000 ) × 100. C) (100/1,100 ) × 100. D) (100/20,000 ) × 100.
In autarky,
a. each country's consumption possibilities are the same as its production possibilities b. equilibrium is attained with the maximum gains from specialization and trade c. equilibrium is attained with the maximum amount of international trade d. a nation has such a high standard of living that there are technically no poor people e. a nation is governed by an individual with absolute authority