When the economy is already at relatively high levels of employment, if policy makers try to further reduce the unemployment levels through expansionary policies, what will be the likely result?
Further stimulating fiscal or monetary policy would just increase inflation and would likely not have much impact at lowering the unemployment rate further.
Economics
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Why is there a significant difference in the pay of physicians and construction workers?
What will be an ideal response?
Economics
PPP-adjustment involves:
A. recalculating economic statistics to account for differences in price levels across countries. B. a method very similar to adjusting to cost-of-living increases using a price index like the CPI. C. recalculating a variable like GDP per capita so we can compare someone's standard of living across countries. D. All of these statements are true.
Economics