Exhibit 12-1 Business cycle
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In Exhibit 12-1, the recovery phase of the business cycle can be represented by points:
A. A.
B. C.
C. E to G.
D. C to E.
Answer: C
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The local banking industry currently has a Herfindahl-Hirschman index (HHI) value of 1945 and two of the competing banks have considered merging. Because the merger would raise the HHI by 155 points, the Federal Trade Commission would likely
A) challenge the merger. B) not challenge the merger. C) allow the merger as long as the HHI did not increase by more than 155 points as promised. D) allow the merger under the condition that the HHI remain at the premerger level of 1875.
In the figure above, if the government starts to provide university education at no charge, in the long run, the wage rate of high-skilled workers will ________ and the wage rate of low-skilled workers will ________
A) rise; fall B) fall; rise C) fall; fall D) rise; rise
Expansionary monetary policy will only temporarily depress interest rates in a basic proposition of the __________ school.
Fill in the blank(s) with the appropriate word(s).
In October 2008, __________ percent of the unemployed workers in the United States were collecting unemployment benefits.
A. 32 B. 38 C. 46 D. 64