Refer to Table 13-1. The Table shows
A) a demand schedule with an inelastic segment from $7.50 to $6.50 followed by an elastic segment.
B) a demand schedule with an elastic segment from $7.50 to $6.50 followed by an inelastic segment.
C) an elastic segment of the demand schedule.
D) an inelastic segment of the demand schedule.
C
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Suppose the working-age population is 500 million, the labor force is 200 million, and the unemployment rate is 15 percent. The number of unemployed people is
A) 30 million. B) 75 million. C) 45 million. D) 105 million. E) 15 million.
Assume the central bank decides to pursue contractionary monetary policy. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the left. b. Start the analysis in the real goods market with aggregate demand shifting to the right. c. Start the analysis in the real credit market with demand for real credit shifting to the left. d. Start the analysis in the real credit market with demand for real credit shifting to the right. e. Start the analysis in the real credit market with supply of real credit shifting to the left.