Since 1946, the president of the United States has received guidance from a group comprised of three members and a staff of a few dozen economists known as the
Council of Economic Advisers
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Which of the following increases frictional and/or structural unemployment?
i. more young workers entering the labor force ii. more generous unemployment benefits iii. a structural slump with some industries dying A) iii only B) i and ii C) ii only D) i, ii. and iii E) i only
As part of the "wealth channel of monetary policy," a lower money supply __________ interest rates and thus __________ bond prices
A) raises; raises B) raises; lowers C) lowers; raises D) lowers; lowers
If the government of a country wants to increase the supply of loanable funds, it should: a. charge a higher rate of tax on the income that is saved
b. charge a lower rate of tax on the income that is saved. c. charge a higher rate of tax on the income that is invested. d. charge a lower rate of tax on the income that is consumed.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.