A mismatch of the skills of unemployed workers and the skills required for existing jobs is defined as:
a. involuntary unemployment.
b. cyclical unemployment.
c. structural unemployment.
d. frictional unemployment.
c
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The median voter theorem states that:
A. if voters have multi-peaked preferences, all of them prefer the median ideal policy. B. if voters have single-peaked preferences, none of them prefer the median ideal policy. C. if voters have single-peaked preferences, a majority of them prefer the median ideal policy to all other policies. D. if voters have multi-peaked preferences, a majority of them prefer the median of those preferences.
State and local income taxes should be deducted from federal income tax.
A. True B. False C. Uncertain
If the Fed wishes to increase the money supply, it can:
A. sell a bond to bank, and take the money it receives in exchange out of circulation in the economy. B. buy bonds from a bank, giving the bank cash in return, which it can then lend out. C. sell a bond to a bank, and take the money it receives and lend it out to someone else. D. buy a bond from a bank, requiring the bank to hold the money it receives as excess reserves.
The Keynesian aggregate expenditures model assumes that:
a. production does not adjust to changes in aggregate expenditures. b. aggregate supply is autonomous. c. prices do not decrease when aggregate demand decreases. d. aggregate supply determines the equilibrium level of real GDP. e. prices are positively related to aggregate demand.