In the early 19th century, the Russian government sent doctors to southern Russian villages to provide assistance during a cholera epidemic. The villagers noticed that wherever doctors appeared, people died. Therefore, many doctors were chased away from villages, and some were even killed. This reaction to the correlation between doctors and deaths is most likely a problem of
a. omitted variables.
b. reverse causality.
c. government propaganda.
d. medical incompetence.
b
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Johnny has been working in a sandwich shop full-time while he attends college. When he graduates, he quits the sandwich shop and begins to search for full-time employment related to his college degree. Johnny would be considered:
A. frictionally unemployed. B. structurally unemployed. C. cyclically unemployed. D. classically unemployed.
Which of the following bank assets would be categorized as secondary reserves?
A. Mortgage loans B. Cash C. Deposits at the Federal Reserve D. U.S. Treasury bills
The distinguishing feature that determines whether an analysis is classical or Keynesian is
A. the speed of price adjustment. B. the slope of the aggregate demand curve. C. the assumption about the transmission mechanism of monetary policy. D. the degree of monopoly power in the economy.
The ________ refers to the amount a household actually works within a given period at the current wage rate.
A. unconstrained supply of labor B. constrained supply of labor C. labor-force participation rate D. natural rate of unemployment