MacroEcon: chapter 8 and 10

In a closed economy, what does (T - G) represent?

In a closed economy, what does (Y - T - C) represent?

A closed economy does not engage in international trade, therefore

A bond is a

Which of the following equations will always represent GDP in an open economy?

Which of the following expressions must be equal to national saving for a closed economy?

In a closed economy, national saving is

In a small closed economy investment is $50 billion and private saving is $45 billion. What are public saving and national saving?

Suppose private saving in a closed economy is $12b and investment is $10b.

Suppose a closed economy had public saving of -$1 trillion and private saving of $3 trillion. What are national saving and investment for this country?

Which of the following involves financial intermediation?

Index funds

A mutual fund

National saving

In a closed economy, if Y and T remained the same, but G rose and C fell but by less than the rise in G, what would happen to private and national saving?

GDP = $5 trillion; consumption = $3.1 trillion; government purchases = $0.7 trillion; and taxes = $0.9 trillion. --------------------------------------------------------- Refer to Scenario 26-2. Suppose, for this economy, the relationship between the real interest rate, r, and investment, I, is given by the equation I = 10.78 - 3.03r. (If, for example, r = 10, this means that the real interest rate is 10 percent.) The equilibrium real interest rate for this economy is

Scenario 26-2. Assume the following information for an imaginary, closed economy. GDP = $5 trillion; consumption = $3.1 trillion; government purchases = $0.7 trillion; and taxes = $0.9 trillion. Refer to Scenario 26-2. For this economy, private saving is equal to

If an economy is closed and if it has no government, then

Mandy purchases 68.2 shares of a mutual fund for $1,500. Cassie's purchase of these shares contributes $1,500 to which magnitude in the identity Y = C + I + G?

An increase in the government's budget surplus means

A budget surplus

The country of Yokovia does not trade with any other country. Its GDP is $20 billion. Its government collects $2 billion in taxes. Consumption equals $15 billion and investment equals $2 billion. What is public saving in Yokovia, and what is the value of the goods and services purchased by the government of Yokovia?

Scenario 26-1. Assume the following information for an imaginary, closed economy. GDP = $100,000; taxes = $22,000; government purchases = $25,000; national saving = $15,000. Refer to Scenario 26-1. For this economy, consumption amounts to

Scenario 26-1. Assume the following information for an imaginary, closed economy. GDP = $100,000; taxes = $22,000; government purchases = $25,000; national saving = $15,000. Refer to Scenario 26-1. This economy's government is running a

If in a closed economy Y = $11 trillion, which of the following combinations would be consistent with national saving of $3 trillion?

The Bureau of Labor Statistics is part of the U.S. Department of

The natural unemployment rate includes

Cyclical unemployment is caused by

Jenna is searching for a job that suits her tastes about where to live. Mary is looking for a job that makes best use of her skills.

Frictional unemployment results from

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

Over the past several decades in the United States, the labor-force participation rate of women has

Which of the following is not a cause of the decline in the U.S. men's labor-force participation rate over the past several decades?

Just after World War II, the labor-force participation rate of men was

People who are unemployed because they are in search of a job that suits their skills are included within

Which of the following is a cause of the changing role of women in American society over the past several decades?

Since 1960, the natural rate of unemployment in the U.S. has been between

The deviation of unemployment from its natural rate is called

According to 2012 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the highest labor-force participation rate?

Which of the following is the correct formula for calculating the unemployment rate?

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment. Refer to Scenario 28-1. What is the total labor force?

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?

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 employed?

Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate?