If the official unemployment rate increases in March from its February level because of sluggish sales in the auto industry, we can conclude that ____ unemployment is responsible for the increase
a. seasonal
b. cyclical
c. structural
d. frictional
e. any one of the causes of
B
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European banks began with which of the following?
a. Monarchs were the first bankers, lending out cash to help the poor learn a craft. b. Churches were the first bankers, lending out cash to help the poor learn a craft. c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money. d. Fishermen were the first bankers, and the paper receipts they issued for the fish they stored in the hulls of their ships became valued as money.
In contrast to the capitalism of the early Industrial Revolution, both feudalism and mercantilism:
A. relied less on state intervention to promote economic growth. B. had stronger central government intervention in economic life. C. expected tradition to answer the central coordination problems. D. relied less on the invisible hand to coordinate economic decisions.
An increase in energy costs will most likely cause the price level and real gross domestic product to change in which of the following ways?
A) PL increase; GDP increase B) PL increase; GDP decrease C) PL increase; GDP not change D) PL decrease; GDP increase E) PL decrease; GDP decrease
A bank is in the position to make loans when required reserves:
A. are greater than actual reserves. B. are less than actual reserves. C. equal actual reserves. D. equal excess reserves.