The Fed can influence unemployment in
a. the short run and in the long run.
b. the short run, but not in the long run.
c. the long run, but not in the short run.
d. neither the short nor the long run.
b
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Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, ________ should specialize in truck sales, and ________ should specialize in car sales.
A. Larry; Ralph B. Joe; Ralph C. Ralph; Larry D. Larry; Joe
If increasing the utility of the transfer recipient is the only criterion cared about, then _____
a. a cash payment will usual be preferred to an in-kind payment b. an in-kind payment will usually be preferred to a cash payment c. a cash payment and in-kind payment are always equal d. an in-kind payment will always be preferred to a cash payment
The difference between the money rate of interest and the real rate of interest is often called the
a. real balance effect. b. prime interest rate. c. inflationary premium. d. discount rate.
Keynes believed that when savings exceeds investment
A. the interest rate will decline and equate savings and investment. B. excessive savings will reduce demand and result in unemployment. C. wage rates would decline reducing excess savings. D. prices would increase causing savings to be reduced.