There is a rise in labor productivity in the economy. As a result, in the short run Real GDP __________ and the price level __________
A) rises; falls
B) falls; rises
C) falls; falls
D) rises; rises
E) remains constant; remains constant
A
Economics
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If aggregate expenditure is less than GDP, how will the economy reach macroeconomic equilibrium?
A) Inventories will decline, and GDP and employment will decline. B) Inventories will rise, and GDP and employment will rise. C) Inventories will decline, and GDP and employment will rise. D) Inventories will rise, and GDP and employment will decline.
Economics
What is the unemployment rate if there are 150 million people employed, 25 million people unemployed, and 25 million not in the labor force?
A) 14.3% B) 13.4% C) 12.5% D) 25.0%
Economics