1) Compared to several decades ago, the U.S. economy now has
_______________.
Select the two correct answers
below.
Select all that apply:
a) near zero percent unemployment
b) better-educated workers
c) greater employment opportunities for individuals
d) workers with access to better technologies
2) Economists typically calculate a ___________ by taking the
CPI and excluding volatile economic variables. In this way,
economists have a better sense of the underlying trends in prices
that affect the cost of living.
Select the correct answer below:
a) core index
b) core inflation index
c) price inflation index
d) none of the above
3) The definition of property includes physical property as well
as the right to your _____________.
Select the two correct answers
below.
Select all that apply:
a) training
b) independence
c) religion
d) experience
4) If the government adjusts minimum wage for inflation only
infrequently, minimum wage workers are losing ___________ from
their nominal wages,
Select the correct answer below:
a) nominal income
b) productivity
c) purchasing power
d) taxes
5) A(n) ________ is a business cycle contraction which results
in a general slowdown in economic activity.
Select the correct answer below:
a) depression
b) recession
c) financial crisis
d) economic slump