Sam, who is 55 years old and has been a steelworker for 30 years, is unemployed because the steel plant in his town closed and moved to Mexico. Sam is experiencing:
A) cyclical unemployment.
B) permanent unemployment.
C) frictional unemployment.
D) structural unemployment.
Ans: D) structural unemployment.
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In the Keynesian model, if interest rates rise above what people consider normal, households will respond by
A) increasing the saving rate. B) reducing the saving rate. C) holding more money. D) holding more bonds.
Today, no country fixes its currency to gold.
Answer the following statement true (T) or false (F)
Many individuals around the world oppose the WTO because they believe it
A. prevents young people around the world from entering the workforce as early in life as they choose. B. unfairly favors the interests of developing countries at the expense of developed countries. C. unfairly favors the interests of large corporations at the expense of workers. D. encourages imposition of unnecessarily restrictive environmental protection regulations.
A bank's reserve ratio is 5 percent and the bank has $1,000 in deposits. Its reserve amount to
a) $5 b) $50 c) $95 d) $950