The natural rate is natural in the sense that macroeconomic policy
a. sees it all the time
b. can ignore it
c. can't do much about it
d. is a natural reaction to unemployment
e. has always recognized that some workers will be voluntarily unemployed
C
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Equilibrium in a market is
a. a situation in which there are no inherent forces that produce change. b. the natural state of affairs in the market. c. the actual price and quantity that will exist in a market. d. the best price and quantity that can exist in a market. e. All of the above are correct.
What are the arguments for and against federal government grants to states?
What will be an ideal response?
The table shows items and figures taken from a consolidated balance sheet of the 12 Federal Reserve Banks. All figures are in billions of dollars. In this balance sheet, the assets would be items 5 and
A. 4 and 6.
B. 2 and 3.
C. 1 and 2.
D. 3 and 4.
Which of the following questions would require positive analysis?
a. If the price of cotton increases by 5 percent, should we buy a new harvester? b. If the price of cotton increases by 5 percent, how much cotton should we farm? c. If the price of cotton decreases by 6 percent, what effect will this have on demand? d. If the price of cotton decreases by 6 percent, should we plant more wheat?