Considering the Federal Reserve Districts, which of the following is true?
A. No district coincides with a single state.
B. Some districts are made up of single states.
C. The districts are divided with equal population.
D. With the exception of New York, no district coincides with a single state.
Answer: A
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The Phillips curve represents the trade-off between:
a. output and interest rates. b. inflation and expected inflation. c. output and unemployment. d. inflation and unemployment.
New automobiles count as consumer durables.
Answer the following statement true (T) or false (F)
A U.S. tariff on steel would increase the domestic quantity of steel supplied.
Answer the following statement true (T) or false (F)
One reason why the lowest wage rate is not necessarily the same as the efficiency wage is that workers might:
A. Be more productive at a higher wage rate B. Have more incentive to shirk at higher wage rates C. Be tempted to switch jobs more frequently at higher wage rates D. Be less inclined to work well at a higher wage rate