The type of unemployment that arises during recessions is known as
A. structural unemployment.
B. the natural rate of unemployment.
C. frictional unemployment.
D. cyclical unemployment.
Answer: D
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What actions should the Fed take if it believes the economy is about to experience a high rate of inflation?
What will be an ideal response?
If the quantity of money demanded is not affected by changes in the interest rate, the LM curve is ________ and fiscal policy will be ________
A) horizontal; very effective B) horizontal; ineffective C) vertical; ineffective D) vertical; very effective
Moving down a straight-line demand curve, the absolute price elasticity of demand
A) increases. B) is constant. C) decreases. D) varies in uncertain ways.
The term "utility" means
a. satisfaction b. a low-valued good c. productivity d. adaptability e. efficiency