Bob just graduated from college and has just landed his first job with a local accounting firm that will start in three months. Bob plans to use that time to find a place to live, and adjust to the new area. Bob would be considered:
A. frictionally unemployed.
B. Bob is not in the labor force.
C. employed.
D. structurally unemployed.
Answer: B
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The interest rate effect suggests that
A) an increase in the price level decreases the interest rate, which causes businesses and consumers to reduce desired spending. B) an increase in the price level increases the interest rate, which causes businesses and consumers to reduce desired spending. C) an increase in the price level increases the money supply, which causes businesses and consumers to increase desired spending. D) a decrease in the price level decreases the interest rate, which causes businesses and consumers to reduce desired spending.
Why are aggregate demand shocks not a good explanation of business cycles in the New Keynesian model?
A) The wage is not constant. B) Employment does not fluctuate. C) Prices in the model are procyclical. D) Consumption is not procyclical.
An example of an explicit cost of production is: a. the cost of foregone labor earnings for an entrepreneur
b. the cost of flour for a baker. c. the foregone rent that could have been earned if land owned by a firm was not used as its parking lot. d. provided by none of the above.
Average hours worked per week have ____ since the early 1900s
a. declined by almost 7 percent b. risen by almost 15 percent c. risen by almost 7 percent d. declined by almost 35 percent