Since 1990, the length of time required to restore full employment after each recession has
A. has increased by about a year each recession.
B. has increased by 6 months each recession.
C. has decreased by 6 months each recession.
D. was about the same as previous recessions.
A. has increased by about a year each recession.
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In a market economy, differences in incomes: a. reflect the relative scarcity of resources
b. provide individuals with an incentive to supply resources that are valued by others. c. determine the income distribution among market participants. d. all of the above are correct.
An indifference curve shows various combinations of two factors of production that give the same level of output per unit of time
a. True b. False Indicate whether the statement is true or false
If the reserve requirement is 12 percent and banks desire to hold no excess reserves, when a bank receives a new deposit of $1,000,
a. it must increase its required reserves by more than $150. b. its total reserves initially increase by $120. c. it will be able to make new loans up to a maximum of $880. d. None of the above is correct.
The main reason our current account deficit is so large is that
A. we are running huge merchandise trade deficits. B. we are running huge federal budget deficits. C. we are allowing too much foreign investment in the United States. D. we are investing too much abroad.