Which of the following is most likely to increase the natural rate of unemployment?
a. An increase in the age of the working population
b. A shift from service to manufacturing jobs
c. An increase in the minimum wage rate
d. A reduction in social security benefits
e. A reduction in direct taxes
c
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Figure 33-6
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If Figure 33-6 (a) illustrates the elimination of a recessionary gap, then the economy should move to what point on the curves shown in Figure 33-6 (b)?
A. From e to r B. From g to j C. From r to j D. From r to m
An increase in the money supply will
A) increase the interest rate. B) decrease the interest rate. C) have no affect on the interest rate. D) decrease the equilibrium quantity of money in the economy.
Which of the following is a typical attribute of a socialist country?
A. Taxes are very high, particularly on the wealthy classes. B. Cradle-to-grave security for its citizens. C. A large-scale redistribution of income program from the wealthy and well-to-do to the middle class, working, class and the poor. D. All of the choices are attributes of a socialist country.
A monopolized market is characterized by:
a. a sole supplier, no close substitutes, and free entry. b. a sole supplier, no close substitutes, and barriers to entry. c. a sole supplier, many close substitutes, and barriers to entry. d. a sole supplier, a few close substitutes, and free entry.