In 1980, the U.S. economy had an inflation rate of
a. about 1 percent and an unemployment rate of about 7 percent.
b. less than 4 percent and an unemployment rate of less than 6 percent.
c. less than 7 percent and an unemployment rate of about 9 percent.
d. more than 9 percent and an unemployment rate of about 7 percent.
d
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The manner in which a nation's economy reacts when the measured factors are changed affects almost every individual
Indicate whether the statement is true or false
If a country's working-age population increases and its wealth increases, then the labor supply curve
A) shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. B) shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. C) shifts to the left. D) shifts to the right.