During recessions, the unemployment rate ________ and output ________
A) rises; falls
B) rises; rises
C) falls; rises
D) falls; falls
A
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When the U.S. government launched a massive rescue plan in response to the 2008-2009 financial crisis, one of the main actions taken was to ________ because the desire was to lessen the severity of the recession by ________
A) increase the supply of loanable funds; limiting the decrease in investment B) decrease the supply of loanable funds; limiting the decrease in investment C) decrease the supply of loanable funds; encouraging decrease in investment D) increase the supply of loanable funds; encouraging decrease in investment E) increase the demand of loanable funds; encouraging decrease in investment
Working fewer hours to reduce your tax burden is tax evasion.
A. True B. False C. Uncertain
Refer to the figure below:
Let supply remain constant at S; a decrease in income causes consumers to be willing and able to purchase 150 fewer units at each price than they were previously.
A. The new equilibrium price and quantity will be P = $7 and Q = 250. B. The new equilibrium price and quantity will be P = $6 and Q = 150. C. The new equilibrium price and quantity will be P = $5 and Q = 200. D. The new equilibrium price and quantity will be P = $5 and Q = 150.
Refer to the accompanying figure.
An economy is currently in long-run equilibrium at point B, at an inflation rate of ?', which is too high for to sustain economic growth. If an anti-inflationary policy is enacted, the economy will be in short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________.
A. A; B B. B; C C. A; C D. B; A