Which of the following is the best example of a macroeconomic externality?
A. One person spending more in order to help stimulate the economy
B. One person saving less without considering the effect on their retirement needs
C. One person starting a business without knowing whether the goods will sell
D. Many people saving more without considering the effect on unemployment
Answer: D
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In June 2012, the U.S. labor force consisted of 142,415,000 employed and 12,749,000 unemployed. The U.S. unemployment rate for June 2012 was about
A) 7.4 percent. B) 8.2 percent. C) 9.0 percent. D) 11.2 percent.
The economic growth model predicts that
A) GDP per capita of poor countries will grow more rapidly than in rich countries. B) GDP per capita of poor countries will never change. C) Governments must centrally direct the economy for growth to occur. D) GDP per capita of rich countries will grow more rapidly than in poor countries.