The multiplier is useful in determining the:
A. full-employment unemployment rate.
B. level of business inventories.
C. change in the rate of inflation from a change in the interest rate.
D. change in GDP resulting from a change in spending.
D. change in GDP resulting from a change in spending.
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Long-run unemployment in the classical model is considered to be impossible because
A) flexible prices and wages keep workers fully employed. B) the government will intervene to aid the unemployed. C) job placement and training programs are rampant in the United States. D) the labor supply is horizontal.
U.S. exports are goods and services
A. produced abroad and sold to foreigners. B. produced in the United States and sold to foreigners. C. produced abroad and sold to Americans. D. produced in the United States and sold to Americans.
Starting at full employment, a business cycle can be described by the following sequence: ________ equilibrium, ________ equilibrium, ________ equilibrium
A) full-employment; below full-employment; above full-employment B) below full-employment; full-employment; above full-employment C) above full-employment; below full-employment; full-employment D) below full-employment; full-employment; below full-employment
Which of the following events prompted the birth of market monetarism?
A) the Great Depression B) the Great Recession C) the 1907 Bankers' Panic D) the establishment of the European Union