Which of the following would most likely move the economy into a recession in the short term?
A. Invention of a new product that most consumers want to buy.
B. Innovations in management that enhance worker productivity.
C. The central bank printing less money than was anticipated.
D. Congress passing a reduction in personal income tax rates.
C. The central bank printing less money than was anticipated.
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In the market for oranges, the demand and supply of oranges decrease by the same amount. The equilibrium quantity will ________ and the equilibrium price will ________
A) decrease; not change B) decrease; fall C) remain the same; either rise or fall D) remain the same; rise
Capital inflow restrictions
A) receive less support from economists than full capital controls. B) may lessen domestic lending booms and risk-taking by domestic banks. C) were imposed in the United States during the late 1990s. D) were imposed in Europe in May 2000.
Which of the following explains why soccer players make millions of dollars in Europe but do not in the United States?
a. discriminatory rules established by the government b. compensating wage differentials for living in Europe c. discriminatory preferences on the part of US sports fans for other sports d. efficiency wages paid to European players to enhance on-field performance
Jim Brown would like to work, but has not looked for work in the past four weeks because he does not believe any jobs are available. In the official employment statistics, Jim is classified as:
A. out of the labor force. B. underemployed. C. employed. D. unemployed.