Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

According to this Application, the argument that the broken window is good for society only works

A) in theory, but never in reality. B) if the economy is operating above full employment where too few resources ae available. C) if the economy is operating at full employment where resources are fully employed. D) if the economy is operating below full employment where resources are underemployed.

Suppose John is a conservative and the economy is in a recession. Which fiscal policy does he recommend?

a. increase taxes b. decrease taxes c. increase G spending d. decrease G spending e. increase the money supply