test questions

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

2.76 mil

John and Jane decide to go on a vacation. As a result, they withdraw $2,500 from their savings account to purchase $2,500 worth of traveler's checks. As a result of these changes,

M1 increases by $2,500 and M2 stays the same.

Esther is considering expanding her dress shop. If interest rates rise she is

less likely to expand. This illustrates why the demand for loanable funds slopes downward

increase in govt budget surplus means public saving is

positive and increasing

If the government's expenditures exceeded its receipts, it would likely

sell bonds directly to the public

Dollar bills, rare paintings, and emerald necklaces are all

stores of value

natural rate of unemployment

varies less than the measured unemployment rate.

Which of the following functions as both a store of value and a medium of exchange?

cash but not stocks

Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods.

country A has lower productivity and real gdp per person than country b

Country A had a population of 1,000, of whom 600 worked an average of 8 hours a day and had a productivity of 2.5. Country B had a population of 800, of whom 560 worked 8 hours a day and had productivity of 3.0.

country B had the higher level of real GDP and real GDP per person

If an American-based firm opens and operates a new clothing factory in Honduras, then it is engaging in

foreign direct investment