Typically, the unemployment rate ________ during a recession and ________ during an expansion.
A. rises; does not change
B. rises; falls
C. rises; rises even more
D. falls; rises
Answer: B
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In practice, the Board of Governors and the chairperson of the Federal Reserve have the real control over monetary policy
Indicate whether the statement is true or false
The switch to flexible exchange rates in 1973 has made the effect of monetary policy on net exports a ________ important component of the monetary policy multiplier process, and thus has ________ the effectiveness lag
A) more, lengthened B) more, shortened C) less, lengthened D) less, shortened
What is the meaning of the word “oligopoly”?
a. few buyers b. many sellers c. few sellers d. one buyer
Which of the following equals the ratio of the change in total revenues over the change in output?
A) total cost B) average revenue C) demand D) marginal revenue