On the business-cycle graph, which phase does point A mark?

On the business-cycle graph, which phase does point B mark?

On the business-cycle graph, which phase does point C mark?

On the business-cycle graph, which phase does point D mark?

Look at the illustrative unemployment-rate graph. What happened to unemployment from 2018 through 2022?

Use the illustrative real-GDP graph. Between which consecutive years did real GDP rise by the greatest amount?

Use the illustrative annual inflation graph. In which year was the inflation rate highest?

Look at the illustrative unemployment graph. In which year was the unemployment rate lowest?

What does the trend in the illustrative real GDP per capita graph indicate?

Use the illustrative federal-budget balance graph. What pattern does it show from 2019 through 2022?

A market basket costs $180 in the base year and $189 this year. What is the inflation rate?

A nation has 9 million unemployed people and a labor force of 150 million. What is its unemployment rate?

Nominal GDP is $525 billion and the GDP price index is 125, with 100 as the base year. What is real GDP in base-year dollars?

A country produces $900 billion of real GDP and has 300 million residents. What is real GDP per capita?

Of 200 million working-age adults, 160 million are in the labor force. What is the labor-force participation rate?

Nominal wages rose 10 percent while the price level rose 4 percent. About how much did real wages rise?

A California bakery sells bread baked this year, a family resells a 2019 car, and a brother gives a free haircut. What counts in this year's GDP?

A store sells a newly made laptop imported from Japan to a U.S. consumer. How is that laptop treated in U.S. GDP?

A city purchases a newly built fire truck made in the United States. Which GDP component includes this purchase?

A homeowner sells a used house for $300,000 and pays a broker a $12,000 commission. What counts in this year's GDP?

A retiree receives a Social Security payment and spends it on a newly made U.S. refrigerator. What counts directly in this year's GDP?

After graduating, Maya spends two months looking for a job that matches her training. What type of unemployment is she experiencing?

A factory replaces assembly workers with robots, and displaced workers lack the technical skills for available jobs. What type of unemployment is this?

A ski-resort employee is laid off every spring because the resort closes until winter. What type of unemployment is this?

During a recession, a furniture company cuts jobs because households are buying fewer sofas. What type of unemployment is this?

A nurse leaves one hospital after accepting a position at another and has a two-week gap before starting. What type of unemployment is she experiencing?

To stimulate a weak economy, the Federal Reserve buys government securities in open-market operations. What is the likely result?

The Federal Reserve raises reserve requirements for banks. What is the likely effect?

The Federal Reserve lowers the discount rate charged to banks that borrow from it. What is the likely effect?

To restrain inflation, the Federal Reserve sells government securities. What happens first?

Inflation is high, so the Federal Reserve raises its target interest rate. What is the intended effect on borrowing and spending?

A government spends $4.2 trillion and collects $3.7 trillion in revenue during one year. What is the $0.5 trillion gap called?

What does the national debt measure?

During a recession, Congress cuts income taxes and increases spending on bridge repairs. Which policy is this?

A government collects $2.4 trillion in revenue and spends $2.2 trillion in one year. What is the result?

In a downturn, more eligible workers receive unemployment insurance without Congress passing a new law. Why can this reduce the downturn's severity?

A tax code charges 10 percent on the first $10,000 of taxable income and 20 percent on the next $10,000. How much tax is owed on $20,000?

Which policy position is associated with John Maynard Keynes?

Which policy view is most closely associated with Milton Friedman?

Adam Smith used the phrase "invisible hand" to describe how what can coordinate economic activity?