Which groups were opposed to the Bank of the United States?
A) northeastern industrial interests
B) northeastern financial interests
C) southern and western agrarian and small-business interests
D) exporters
Ans: C) southern and western agrarian and small-business interests
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The natural rate of unemployment includes
A) frictional and cyclical unemployment. B) frictional unemployment and structural unemployment. C) only cyclical unemployment. D) only unemployment due to layoffs and corporate downsizing.
The amount of a tax paid by the buyers will be larger the
A) more elastic the demand and the more inelastic the supply. B) more inelastic the demand and the more elastic the supply. C) more inelastic are both the supply and demand. D) more elastic are both the supply and demand.
Which of the following functions of money would be violated if inflation were high?
A) store of value B) medium of exchange C) unit of account D) certificate of gold
The expected real cost to a firm of using an additional unit of capital during a period of time is the
A) user cost of capital. B) marginal product of capital. C) marginal cost of capital. D) opportunity cost of capital.