Most spells of unemployment are short, and most unemployment observed at any given time is short-term
a. True
b. False
Indicate whether the statement is true or false
False
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The extremely rapid _____________ of foreign capital from the flow of international trade can plunge an economy into deep recession.
a. introduction b. departure c. increase d. stalling
Suppose that all countries eliminate their barriers to trade. The HeckscherOhlin model predicts that:
a. wages should become more equal throughout the world. b. wages should become more unequal throughout the world. c. the volume of international trade should fall. d. there should be increased migration of labor among countries.
Short-run decisions refer to the:
A. hourly, daily, or weekly decisions that firms have to make. B. decisions a firm has to make immediately to prepare for either entering or exiting an industry. C. immediate decisions that firms have to make that affect level of output, but not the production process. D. immediate decisions that firms have to make that affect the production process, not level of output.
The United States is experiencing recession, so Congress adopts an expansionary fiscal policy. State governments face a budget shortfall and raise taxes to balance their budgets. The actions of state governments would:
A. partially offset the fiscal policy. B. slightly increase aggregate supply. C. slightly increase aggregate demand. D. partially reinforce the fiscal policy.