In the United States monetary policy is:
A. undertaken by the Treasury.
B. undertaken by the Fed.
C. also known as global policy.
D. also known as fiscal policy.
Answer: B
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The more generous unemployment benefits are, the ________ the unemployment rate remains and the ________ the time frame people tend to remain unemployed
A) higher; longer B) higher; shorter C) lower; longer D) lower; shorter
Coal producers cannot profit by acting opportunistically toward U.S. Steel because:
a. there is a wide range of coal producers and substitution possibilities are high. b. coal is a highly specific resource and trades at competitive prices. c. the company usually enters into a delivery contract to obtain coal. d. the market for coal is thin.
An opportunity cost is:
a. the value obtained when making a choice. b. the price paid for the choice that is made. c. what must be given up to obtain something that is desired. d. what must be given up to obtain something that is not desired.
When the economy is in a recessionary gap, Keynesian economists will often advocate expansionary policy measures. Why?
A) Keynesians believe the economy sometimes gets stuck in a recessionary gap and can't get itself out without government intervention. B) Keynesians believe the economy itself sometimes takes too long to eliminate the recessionary gap and return to full-employment output. C) Keynesians are generally in favor of increasing taxes. D) a and b E) a and c