The difference in wages between college graduates and high school graduates:
A. has increased in recent years.
B. is smaller than in the past.
C. is nonexistent when labor markets are in equilibrium.
D. has been stable for several decades.
Answer: A
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When an insurance company specifies certain precautions that an insured person must take it is trying to control for moral hazard.
Answer the following statement true (T) or false (F)
The recession that became the Great Depression began
A) two months prior to the stock market crash of 1929. B) with the stock market crash of 1929. C) one year after the stock market crash of 1929. D) with the banking panics of the early 1930s.
When it comes to macro-policy, most economists now agree that
a. policy should be constantly changing in response to business cycle conditions. b. policy changes should exert stimulus during inflationary booms and restraint during downturns. c. given our ability to forecast economic conditions, policy changes easily can be implemented in a timely manner. d. policy changes are difficult to time correctly, and therefore constant shifts in policy are likely to be a source of economic instability.
Suppose that there is a financial crisis, and people choose to spend less. As a result, velocity drops by 5 percent. According to market monetarists, if the GDP target growth rate is 3 percent, the Fed would need to increase the money supply by ______________ percent in order to achieve their GDP target
A) 8 B) 2 C) 4 D) 5