Business fluctuations
A. have no influence on inflation and unemployment.
B. can influence inflation and unemployment.
C. influence inflation but not unemployment.
D. influence unemployment but not inflation.
Answer: B
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
If KeKe, age 32, worked 12 hours as a paid employee the week before the Current Population Survey, KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate
A) a discouraged worker B) employed C) underemployed D) not in the labor force E) unemployed
Sellers turn so frequently to government in efforts to protect themselves from competition because government
A) can be influenced by monetary payments. B) can use coercion against competitors. C) has rather consistently forced firms to compete when they preferred not to. D) is charged with protecting the public interest. E) is under the thumb of monopolists.
If controlling the level of military expenditures is the most important goal, the most appropriate type of procurement contract would be _____
a. fixed fee b. cost plus fixed fee c. cost plus percentage fee d. cost plus incentive fee