Cyclical unemployment is that which rises in recessions and shrinks during expansions.
Answer the following statement true (T) or false (F)
True
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Monetary policy actions are determined by the
A. President of the United States. B. New York Federal Reserve Bank. C. Federal Open Market Committee. D. all of these
Taxes that governments place on imported goods for reasons such as protecting sensitive industries, influencing humanitarian practices, and protecting against dumping are called ____________.
a. tariffs b. penalties c. restrictions d. limits
In a sealed-bid Vickrey auction, the person who bids the:
A. highest gets the object of the bid at the price he or she bid. B. second highest bidder has the option to receive the good if he or she pays the price of the highest bidder. C. highest bidder gets the object but pays the price bid by the second highest bidder. D. second highest bidder gets the good and pays that price.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.