Income decreases in the United States. This will cause a(n)
A. increase in the demand for pounds.
B. increase in the supply of pounds.
C. decrease in the supply of pounds.
D. decrease in the demand for pounds.
Answer: D
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The use of psychological incentives to solve commitment problems would be least effective in games played:
A. once between strangers. B. repeatedly between strangers. C. repeatedly between family members. D. once between family members.
When cost-push inflation starts, real GDP ________ and the price level ________
A) decreases; falls B) does not change; falls C) decreases; rises D) does not change; does not change E) increases; falls
Frictional unemployment includes
A) unemployment caused by normal labor turnover associated with people leaving and entering the labor force. B) unemployment caused by industries moving overseas to better meet foreign competition. C) unemployment caused by a lack of education so that workers do not possess necessary job skills. D) unemployment caused by automation of the work place that displaces unskilled workers.
The relationship among interest rates on bonds that all mature at the same time is known as the
A) term structure of interest rates. B) risk structure of interest rates. C) term premium. D) Treasury yield.