Unemployment in the United States varies considerably over time.
Answer the following statement true (T) or false (F)
True
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Suppose X - M = net exports; T - G = government sector balance; and S - I = private sector balance. What relationship exists among these variables?
A) (X - M ) + (T - G ) + (S - I ) = 0 B) (X - M ) = (T - G ) + (S - I ) C) (T - G ) + (X - M ) = (S - I ) D) (T - G ) = (X - M ) + (S - I )
Consumers seek to
A) maximize profits. B) maximize expected consumer surplus. C) maximize expenditures. D) maximize choice.
If expectations are "rational," can the Fed control unemployment?
a. Yes, provided it announces policy in advance. b. Yes, if it affects the aggregate demand curve. c. No, because aggregate supply is vertical even in the short run. d. No, because only fiscal policy can affect unemployment.
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.