An example of a frictionally unemployed individual is
a. Sylvia, who quit her job to spend more time with her children
b. Rod, the lifeguard, who cannot find a job because the temperature is too low in October
c. Ileana, a college student who quits her job to return to school
d. Steve, an individual does not have skills to keep his job as an aerospace engineer
e. Samantha, who quits her job to look for better one
E
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Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, one million dollars in required reserves, and faces a required reserve ratio of ten percent
Given this information, we can say First National Bank has ________ million dollars in excess reserves. A) one B) two C) nine D) ten
In the steady state, real GDP per worker ________, and real GDP per effective worker ________
A) will grow; will grow B) will grow; is constant C) is constant; will grow D) is constant; is constant
An unexpected reduction in inflation would tend to benefit which of the following?
A) creditors B) debtors C) creditors and debtors D) neither creditors nor debtors
In the classical model, government purchases or tax cuts are appropriate policies to raise GDP
a. True b. False