What does it mean to conduct a sequential search?
A. to determine an asking wage and then accept the first job offer that pays a wage equal to or greater than the asking wage
B. to search for jobs even when employed
C. to accept the first job that one is offered
D. to accept a job offer from an employer, but then to still search for a better job offer
E. to apply to all job openings
Answer: A
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Short-run equilibrium output is where the level of output:
A. equals aggregate expenditure. B. equals real GDP per capita. C. equals potential output. D. maximizes firm profits.
Assume the deposit expansion multiplier is 3.0. If the Treasury borrows $5 billion from the Non-bank public and spends it on the public, bank reserves will
A) rise by $5 billion. B) fall by $5 billion. C) rise by $15 billion. D) not change.
The perfectly competitive firm's demand curve has
A) a negative slope. B) a positive slope. C) an undefined slope. D) a slope of 0.
One major problem with Social Security is that it is a "pay as you go" system
a. True b. False Indicate whether the statement is true or false