Which of the following would NOT be considered unemployed?
A. a job leaver who is looking for a better job
B. a new entrant to the labor force
C. an individual fired by her employer
D. a newly retired worker
Answer: D
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The lag between the time that the need for fiscal action is recognized and the time action is actually taken is referred to as the
A. spending lag. B. implementation lag. C. legislative lag. D. recognition lag.
A fish hatchery raises brook trout and rainbow trout. An increase in the market price of brook trout therefore tends to
A) reduce the demand for brook trout. B) increase the hatchery's cost of raising rainbow trout. C) increase the demand for brook trout. D) decrease the hatchery's cost of raising rainbow trout.
Arguments for adopting a policy rule include
A) the time-inconsistency problem can lead to poor economic outcomes. B) discretionary policies pursue overly expansionary monetary policies to boost employment in the short run but generate higher inflation in the long run. C) policy makers and politicians cannot be trusted. D) all of the above.
Monetarists believe that: a. the government should follow a fixed rule to change money supply in response tobusiness cycles
b. the government should not use discretionary monetary policy to achieve its goals ofeconomic growth and low inflation. c. government intervention should be well thought out and should be used only during recessions. d. government intervention in the economy makes business cycles disappear. e. government intervention policies have only long-run effects.