"Depression means idleness. And idleness means loss of skills, loss of self-respect, plummeting morale, family disintegration, and sociopolitical unrest." This quote describes some of the:
A. Consequences of the hyperinflation that accompanies a recession
B. Reasons for the natural rate of unemployment
C. Noneconomic costs of unemployment
D. Characteristics of structural unemployment
C. Noneconomic costs of unemployment
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Use the following graph to answer the next question.
If demand for overnight funds in the graph should increase by $50 billion at each and every point on the demand curve, but the Federal Reserve wants to keep the target rate at 5.0%, what will be the new equilibrium quantity of reserves?
A. $200 billion B. $100 billion C. $150 billion D. $250 billion
Holding supply constant, an increase in demand will
A) increase both the quantity and price. B) increase the equilibrium price and decrease the equilibrium quantity. C) decrease the equilibrium price and increase the equilibrium quantity. D) decrease both the quantity and price.
Velocity can be defined as:
a. the turnover rate of money b. the speed at which economic activity takes place. c. the speed at which multiplier effect takes place. d. the speed at which tax cuts are spent.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.