During a recession, the overall unemployment rate
A. equals the inflation rate.
B. falls below the natural rate of unemployment.
C. falls rapidly.
D. exceeds the natural rate of unemployment.
Answer: D
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A decrease in the money supply
a. lowers the interest rate, causing a decrease in investment and a decrease in GDP. b. lowers the interest rate, causing a decrease in investment and an increase in GDP. c. raises the interest rate, causing an increase in investment and a decrease in GDP. d. raises the interest rate, causing an increase in investment and an increase in GDP. e. raises the interest rate, causing a decrease in investment and a decrease in GDP.
A curve that describes the relationship between the price of a good and the amount a particular consumer purchases (holding the consumer's income, preferences and all other prices fixed) is called:
A. a price-consumption curve. B. an individual demand curve. C. an income-consumption curve. D. a budget line.
Money market mutual funds are accounts that are
A. usually offered by banks. B. do not pay interest income. C. insured by the federal government. D. usually offered by brokerage and insurance firms.
Assume that Maya and Miguel each has 60 hours available. If each person divides his/her time equally between the production of mixers and toasters, then total production is
A. 3.5 mixers and 6 toasters. B. 20 mixers and 12 toasters. C. 8 mixers and 16 toasters. D. 15 mixers and 9 toasters.