According to a recent study, college students who graduate during an economic recession end up accepting jobs that, on average, pay ________ less than the jobs accepted by students who graduate during economic expansions, and will continue to earn
less for ________ after they graduate. A) 26%; 5 years
B) 9%; 8 to 10 years
C) 4%; 3 to 5
D) 17%; 12 to 15
B
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A dirty float is an example of ________
A) a fixed exchange rate system B) a flexible exchange rate system C) a revaluation D) a currency board
In the 1960s and 1970s the U.S. passed several major consumer safety laws, including the Flammable Fabrics Act and the Child Protection Act. The economic impact of such legislation may include all of the following except:
a. reducing the price of the regulated product. b. increasing the cost of producing the regulated product. c. reducing the supply of the regulated product. d. reducing competition within the regulated industry.
The median voter model predicts that
A) both candidates in a two-person race will definitely move toward the middle of the political spectrum as the election approaches. B) the candidate (in a two-person race) closer to the middle of the political spectrum (closer to the median voter) on election day will win the election. C) conservatives have a higher probability of winning elections than liberals. D) liberals have a higher probability of winning elections than conservatives. E) voters will often be rationally ignorant of important political issues.
In the long run, an increase in the aggregate price level:
A. decreases real output. B. increases real output. C. increases spending. D. doesn't change real output.