Microeconomics includes the study of the
A) aggregate effects on the national economy.
B) nationwide unemployment rate.
C) reasons why the government changes interest rates.
D) recessions and inflation in the global economy.
E) choices made by individuals and businesses.
E
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The process of bundling loans together and buying and selling these bundles in a secondary financial market is called
A) seigniorage. B) securitization. C) open market operations. D) fractional reserve lending.
Which of the following is not likely to occur because of exchange rate fluctuations?
A. An end to flexible exchange rates worldwide. B. Inflation. C. An increase in the demand for imports. D. A decrease in the demand for exports.
A perfectly elastic supply curve would:
A. be horizontal. B. be vertical. C. intersect the horizontal axis. D. intersect the two axes at the origin.
Which of the following statements is true?
A. The four phases of the business cycle, in order, are: peak, recovery, trough, recession. B. When unemployment is rising then real GDP is rising. C. The economic problem typically associated with a recovery is rising unemployment. D. Full employment exists in an economy when the unemployment rate equals the sum of frictional, and structural unemployment rates.