The United States experienced a deep recession between 2007 and 2009. Which type of unemployment would most likely increase during that period of recession?
A) cyclical unemployment
B) frictional unemployment
C) seasonal unemployment
D) structural unemployment
A
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The argument that ________ receives strong support from the innovative policy response to the recent financial crisis
A) rules can be too rigid B) discretionary policies are vulnerable to the time-inconsistency problem C) money is the sole source of fluctuations in aggregate demand D) changes in policies can change the coefficients in macroeconometric models
Screening is when someone takes action to:
A. reveal one's own private information. B. find out the opportunity cost of acquiring more information. C. reveal private information about someone else. D. None of these statements is true.
According to the theory of rational expectations, when it comes to expected changes in the inflation rate, the short-run Phillips curve would be: a. vertical
b. horizontal. c. upward sloping. d. downward sloping.
Exhibit 7-14 Cost curves
In Exhibit 7-14, a firm finds that it is experiencing numerous managerial and information problems. The position of its short- and long-run average total cost curves suggest that it is operating at a production level:
A. between 0 and 1,000. B. between 1,000 and 2,000. C. between 2,000 and 3,000. D. between 3,000 and 4,000.