Principles of Macroeconomics Study Set 5
Quiz 4: Short-Term Economic Fluctuations
The Unemployment Rate Increases During
The unemployment rate increases during A) expansions and booms. B) expansions and recessions. C) booms and recessions. D) recessions and depressions. E) booms and depressions.
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The inflation rate A) was higher in the 1990s than during the 1970s. B) increases the standard of living for people on fixed incomes. C) is the rate at which prices in general are increasing over time. D) is roughly equal in most countries. E) rises during recessions,along with the unemployment ratE.
When a country imports more than it exports,this results in a A) trade balance. B) trade deficit. C) trade surplus. D) recession. E) inflation.
Microland has a population of 50 people;40 of them worked last year,with a total output of $200,000.Output per person of Microland was A) $200,000. B) $200. C) $4,000. D) $40,000. E) $5,000.
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