Structural unemployment refers to unemployment that results from:
a. inefficiencies in the market for labor that prolong the job search.
b. being in the wrong geographical location
c. the specialization and division of labor.
d. seasonal decreases in demand for labor.
e. a recession in the economy.
b
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During the Great Depression the price level increased
a. True b. False
The increase in the interest rate due to a higher expected inflation rate is called the __________ effect
A) expectations B) Fisher C) liquidity D) income E) a or b
If there are strong expectations of future economic growth, then the:
A. economy will move to the right along the existing consumption function. B. economy will move to the left along the existing consumption function. C. consumption function will shift downward. D. investment demand curve will shift upward.
The study of microeconomics and macroeconomics differ in that:
A. microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy. B. microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy. C. microeconomics studies the actions of households and macroeconomics studies the actions of business firms. D. microeconomics examines the whole economy while macroeconomics studies the individual units of the economy.