Addressing the natural rate of unemployment is
a. straightforward in theory but difficult in practice.
b. straightforward in theory and in practice.
c. difficult in theory and in practice.
d. straightforward in practice but difficult in theory.
c. difficult in theory and in practice.
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If the Fed buys $100,000 in U.S. government securities from a commercial bank, the bank now has an additional $100,000 of
A) total assets. B) excess reserves. C) actual reserves. D) net worth.
In the long run, an increase in government purchases of military equipment would cause output to ________ and the aggregate price level to ________
A) stay constant; fall B) fall; fall C) fall; stay constant D) stay constant; rise
International trade was not important to the industrializing U.S. since it was relatively rich in raw materials and land
Indicate whether the statement is true or false
When the wage rate rises, a worker is better off and thus chooses to have more leisure and more consumption. This phenomenon is known as
a. compensating differential. b. the income effect. c. the substitution effect. d. intertemporal substitution.