Seasonally adjusted unemployment rates:
A. adjust for the predictable summer increase in the unemployment rate for teenagers.
B. adjust for the predictable summer decrease in the unemployment rate for teenagers.
C. are the same as the unadjusted rates in periods of bad weather.
D. are not calculated for the U.S. economy.
Answer: A
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If Michelle can buy a woolen jacket for 40 yuan in China, and Rebecca pays $40 for the same jacket in the U.S., it implies that the exchange rate between these two nations is 10 yuan = $1
a. True b. False Indicate whether the statement is true or false
Suppose a positive technological change in the production of disease-resistant corn caused the price of corn to fall. Holding everything else constant, how would this affect the market for wheat (a substitute for corn)?
A) The supply of wheat would increase and the equilibrium price of wheat would decrease. B) The demand for wheat would decrease and the equilibrium price of wheat would decrease. C) The demand for wheat would increase because consumers could afford to buy more wheat and corn. D) The demand for wheat would decrease and the equilibrium price of wheat would increase.