Which of the following CANNOT be eliminated in a growing economy such as the U.S. economy?
A) absolute poverty
B) relative poverty
C) both absolute and relative poverty
D) Neither absolute nor relative poverty can be eliminated.
B
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Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, all else equal, the official unemployment rate would
A. be unchanged. B. increase in the short run but eventually decline. C. increase. D. decline.
When a central bank intervenes in the ________, their intention is to ________
A) spot market; convey a clear signal to the markets B) futures market, hide its actions from the markets C) forward market, hide its actions from the markets D) swap markets, convey a clear signal to the markets
The severe oil shortages of the 1970s in the US created:
A. cost push inflation. B. demand pull inflation. C. a recession. D. an increase in the velocity of money.
The time interval in which suppliers can change the quantity of all the resources they use to produce goods and services is called
a. the short run b. the long run c. equilibrium d. the supply schedule e. excess supply