During a recession, the ________
A) number of discouraged workers decreases
B) unemployment rate decreases
C) employment-to-population ratio increases
D) number of marginally attached workers increases
D
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In economics, the term "land" means
A) only land that is used in agricultural production. B) land, mineral resources, and nature's other bounties. C) land that is devoted to economic pursuits. D) land used for agricultural and urban purposes.
If the Friedman rule for long-term monetary policy were implemented, the result would be
A) inflation. B) neither inflation nor deflation. C) deflation. D) hyperinflation.
An increase in income in an open economy nation will cause a change in consumer spending on home production, and a(n):
a. increase in taxes. b. decrease in savings. c. increase in foreign production. d. increase in imports if MPCF (marginal propensity to consume foreign goods) is greater than zero.
According to the interest-rate-based monetary policy transmission mechanism, an increase in the money supply generates
A. an increase in aggregate supply since the supply of money is part of aggregate supply. B. increased spending on consumer goods and services directly, which causes an increase in aggregate demand. C. lower interest rates, which causes an increase in planned real investment spending and an increase in aggregate demand. D. an increase in nominal GDP and a change in the price level, but no change in real GDP.