Frictional unemployment is the result of
A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs.
B) the process of matching workers with jobs.
C) the ups and downs in inflation.
D) a slowdown in the economy.
Answer: B
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The appropriate monetary policy response to a situation with deficient financial liquidity
A) an open market sale of government bonds. B) to do nothing. C) an open market purchase of government bonds. D) to increase reserve requirements.
Which of the following is true about inflation?
a. Inflation is favored by the poor because they have less money. b. Inflation is more damaging if it is anticipated. c. Inflation is more damaging to the poor because they have less money. d. Those who lend money at a rate below the rate of inflation suffer economic losses. e. If people can accurately anticipate inflation, no one gains or loses from it.
Poor countries often have difficulty investing in capital because
a. development assistance is designed in increase consumer goods. b. multinational corporations do not bring technological advances into poor countries. c. the population is living at subsistence level and cannot afford to save. d. they suffer from the cost disease of personal services.
If demand increases and supply decreases, the change in the equilibrium price will be ________, and the change in the equilibrium quantity will be ________.
A. positive; negative B. positive; positive C. uncertain; positive D. positive; uncertain