Question

The unemployment rate in Wisconsin is usually lower than the national unemployment rate.

Group of answer choices

True

False

A major stock market crash occurred in the 1980s while minimum wage fell only slightly, which caused

Group of answer choices

A decrease in the price level and output

A decrease in the price level and output remains constant

Prices and output to both be indeterminable

The total physical damage due to the September 11^th attacks was about $16 billion. The economic damage is estimated to be $30 billion. We can thus estimate that the wealth of the U.S. dropped in the matter of a few hours by about $46 billion, causing

Group of answer choices

Deflation and the unemployment rate to fall

Deflation and the unemployment rate to rise

Inflation and the unemployment rate to rise

Inflation and the unemployment rate to fall

Answer 1

Sol :

1- The statement that the unemployment rate in Wisconsin is usually lower than the national unemployment rate is true but at the same time job/employment creation in Wisconsin has kept on slacking the national average for 25 quarters.

2- A major stock market crash occurred in the 1980s while minimum wage fell only slightly, which caused a decrease in the price level and output remains constan and this crash sparked fears of extended economic instability around the world at that time.

3-

The total physical damage due to the September 11th attacks was about $16 billion. The economic damage is estimated to be $30 billion. We can thus estimate that the wealth of the U.S. droppedin the matter of a few hours by about $46 billion, causing deflation and the unemployment rate to rise and the U.S. Division of Homeland Security working paper likewise presumed that the Sept. 11th attacks brought about a 0.11% expansion in the unemployment rate, which adds up to a decrease in employment by 598,000 jobs.

In contrast to the GDP, which bounced back decently fast from the attacks, the negative effect on unemployment was as yet evident in 2009, according to the report.