Suppose the unemployment rate remained unchanged at 10 percent from 1999 through 2001 . We can conclude that
a. the same 10 percent of the people in the economy were out of work during the 1999–2001 period
b. one of every 10 people in the labor force was unemployed during the 1999–2001 period
c. the same 10 percent of the people in the labor force were out of work during the 1999–2001 period
d. people in the labor force were out of work for 10 percent of the 1999–2001 period
e. 10 percent of the people in the economy were out of work for 10 percent of the 1999–2001 period
B
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According to Taylor's rule, all of the following variables help explain the behavior of the federal funds rate EXCEPT
A) output gap. B) current inflation. C) inflation gap. D) yield curve.
If the supply curves for the following goods were plotted, they all would slope upward except one. Which is the exception?
a. red Corvettes b. yogurt c. diamond rings d. original copies of the Mona Lisa e. wine from Greece
Which of the following is not an example of an adverse selection problem?
a. A homeowner purchases a refrigerator that the seller knows has a history of leaking. b. A highly productive worker quits her job after a salary cut knowing that she can make more at a different job. c. A major league baseball player performs poorly in his second season after signing a multi-million dollar contract. d. A contractor uses low quality materials for construction but charges for higher quality materials.
Games that don't have a dominant strategy:
A. don't exist; all games have at least one dominant strategy. B. may have stable equilibrium outcomes. C. always have stable equilibrium outcomes. D. do not have stable equilibrium outcomes.