Which of the following types of unemployment is most likely the cause of higher- than-normal unemployment when an economy enters recession?
a. cyclical
b. frictional
c. seasonal
d. structural
a. cyclical
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Other things equal, when the real interest rate falls, C, I and NX ________ and the output gap will ________
A) decrease; decrease B) decrease; increase C) increase; increase D) increase; decrease
"Granger laws":
a. were severely limited in scope through litigation. b. generally outlawed both place and person discrimination. c. established commissions with the power to investigate complaints. d. All of the above are correct. e. Only a and b are correct.
Monetary policy has no ________.
A. implementation lag B. legislative lag C. multiplier lag D. recognition lag
Which of the following would tend to increase the quantity of innovative activities?
A. A decline in the rate of return on investment in research and development. B. Dispersing innovative activity away from clusters, where ideas often stagnate. C. A change in government policy that makes patents more difficult to obtain. D. An increase in the rate of immigration of scientists and engineers.