When natural disasters, such as hurricanes on the U.S. Gulf Coast or an earthquake in Japan, disrupt supply chains and push up the costs of production, this may result in
A. Cost-push inflation.
B. Wage-pull inflation.
C. Labor-push inflation.
D. Demand-pull inflation.
Answer: A
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The Federal Reserve conducted the policy of quantitative easing primarily when
A) the interest rate was very sensitive to the change in the money supply. B) the interest rate was close to zero. C) the interest rate was relatively high. D) the interest rate was too erratic to be controlled.
Keynes was especially concerned with explaining the
A) recession of 1920-21. B) low levels of output and employment during the Great Depression. C) strong economic growth of the 1920s. D) high unemployment in Great Britain during the 1920s.
A price ceiling is
a. often imposed on markets in which "cutthroat competition" would prevail without a price ceiling. b. a legal maximum on the price at which a good can be sold. c. often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling. d. All of the above are correct.
Steven is a career-oriented college student. What should he do to best prepare himself for the tough job market?
a. concentrate completely on schoolwork; no jobs, clubs, or volunteer work b. seek out internships and co-ops in his field c. join a dozen or more college social organizations, so that he can have a resume at least 3 pages long d. all