According to conservatives the Bureau of Labor Statistics
A. overstates the number of unemployed and overstates the unemployment rate.
B. overstates the number of unemployed and understates the unemployment rate.
C. understates the number of unemployed and understates the unemployment rate.
D. understates the number of unemployed and overstates the unemployment rate.
A. overstates the number of unemployed and overstates the unemployment rate.
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Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy. Figure 5-3 shows four diagrams that represent different changes in the macroeconomy. Choose the diagram that best represents the situations described in the following questions.Figure 5-3
Which graph in Figure 5-3 best represents the aggregate demand-induced Great Depression of the 1930s?
A. 1 B. 2 C. 3 D. 4
If the price of a product increases from $10 to $12 and the quantity demanded decreases from 40 to 30, then according to the total-revenue test, the product is price elastic in this price range.
Answer the following statement true (T) or false (F)