Technically, the Federal Reserve district banks are corporations whose stockholders are the
a. state governments in each district.
b. citizens of the United States.
c. Departments of Treasury and Commerce.
d. member banks.
d
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According to Okun's law, an increase in the unemployment rate will cause ________ in the level of employment and ________ in the level of output
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
If there were no factors keeping wages from reaching equilibrium then there would be no
a. cyclical unemployment. b. frictional unemployment. c. structural unemployment. d. natural rate of unemployment.
A perfectly horizontal demand curve has
A. negative elasticity. B. some positive finite elasticity. C. zero elasticity. D. elasticity equals infinity.
Social insurance programs are event-conditional.
Answer the following statement true (T) or false (F)