The program of unemployment insurance in the United States was created during the
a. Great Depression.
b. Reagan recession.
c. Kennedy administration.
d. Great Society.
a
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If nominal interest rates have a lower bound of zero and deflation occurs at 3% (i.e., the inflation rate equals -3%, then the lowest real interest rate possible is
A) -3%. B) 0%. C) 3%. D) 6%.
A game in which any gains one player makes are offset by equal losses by another player is known as a
A) zero-sum game. B) positive-sum game. C) negative-sum game. D) cooperative game.
If money is neutral, then changes in the quantity of money
a. do not affect real output. b. affect both nominal and real output c. do not affect nominal output. d. affect neither nominal nor real output.
Due to the huge number of consumers, the market demand curve for chocolate is ______.
a. intermittent
b. stepped
c. smooth
d. zig-zagged