1. The old established banking house Lehman Brothers collapsed in the fall of 2008. Why did this happen and what were the consequences? Get information from the Internet, the UMUC library database, your base library periodicals etc.
Explain why an economy’s output, in essence, is also its income.
How is the labor force defined and who measures it? How is the unemployment rate calculated? Does an increase in the unemployment rate necessarily mean a decline in the size of the labor force? Why positive unemployment rate- one more than zero percent-fully compatible with full employment?
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