Cyrus just graduated from flight school. He received multiple offers, but is waiting to hear back from all the jobs he applied to before he makes a decision. Cyrus is experiencing
A. frictional unemployment.
B. seasonal unemployment.
C. structural unemployment.
D. cyclical unemployment.
Answer: A
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(a) Assume that R denotes the domestic interest rate and R denotes the foreign interest rate
Under a fixed exchange rate what is the relation between R and R (b) Assume E denotes the domestic currency price of the dollar for a country which is not the United States. If one wants to analyze only the short run effects of a policy, what does one assume about the Home and Foreign price levels, P and P , respectively. (c) Assume that there is no ongoing balance of payment crisis. What is this assumption really assume? (d) Assume a fixed exchange rate system. What does this tell you about E? (e) Under the above assumptions what are the conditions for internal balance? (f) How is your answer to Part D above would change if P is unstable due to foreign inflation. (g) Given the definitions above, how one defines the real exchange rate? (h) Write the condition for internal balance. (i) Define the variable not defined before in Part G above. (j) Using the equation for internal balance derived above, given our assumptions analyze the effects of a fiscal expansion. (k) What would happen if the government of that country, which is not the United States under Bretton Woods, decides to devaluate its currency? (l) What would happen if the government of that country, which is not the United States under Bretton Woods, decides to use monetary policy rather than fiscal policy? (m) Given all of the above, what is the relation between the exchange rate, E, and fiscal ease, i.e., an increase in G or a reduction in T? (n) Assume that the economy is at internal balance. What will happen if G goes up for a given level of E? (o) Assume that the economy is at internal balance. What will happen if G goes down for a given level of E?
During the period between 1960 and 1968 the poverty rate _______.
Fill in the blank(s) with the appropriate word(s).
As discussed in the Case in Point on the size of the fiscal multiplier, a study conducted by John Taylor on the effect of fiscal policy since the year 2000 suggests that
A) the multiplier effect of fiscal policy is much less than that for monetary policy. B) temporary fiscal policy financed through government borrowing implies a multiplier value between 0.8 and 1.5. C) fiscal policy has little effect on the economy and that the multiplier value is effectively zero. D) statistical models are inadequate to determine the multiplier and the multiplier value likely varies based on the state of the economy.
Between 1960 and 2010, the labor force participation rate for men
A) decreased in most years. B) increased in most years. C) did not change. D) fluctuated, first rising until about 1989 and after that, then falling. E) did not change until 1992, after which it generally increased.