A recession is a slowdown in the rate of economic growth that
A) causes total income to fall even though total output has not declined.
B) is unintended and therefore disappoints people's expectations.
C) lowers the nominal level of gross domestic product.
D) persists longer than one year.
E) results in fewer people being employed.
B
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A key component of the asset approach to exchange rates is being able to gauge accurately:
a. the price level. b. the rate of inflation. c. expected future exchange rates. d. the GOP gap.
Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate
A) employed B) a discouraged worker C) not in the labor force D) unemployed E) underemployed