Customer service representatives who have lost their jobs as a result of call centers being outsourced to India are an example of:
A. structural unemployment.
B. cyclical unemployment.
C. frictional unemployment.
D. voluntary unemployment.
Answer: A
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Which of the following institutions is NOT part of the structure of the Federal Reserve system?
A) The Federal Open Market Committee B) The Federal Reserve Banks C) The Board of Governors D) The Federal Government
Despite the monetary expansion of the 1992–2000 period, the inflation rate
A. rose due to adverse supply shocks. B. rose due to large increases in aggregate demand. C. fell despite adverse supply shocks. D. fell due to favorable supply shocks.
The liquidity trap illustrated in Figure 15.5 is the result of a
A. Currency that is not serving its function as a store of value. B. Low opportunity cost of money. C. Low demand for cash at low interest rates. D. Fed ceiling on interest rates.
Which of the following is true with regard to economic growth? a. Small differences in economic growth rates make small differences in Real GDP over time
b. Once a country is richer than other countries, it will remain richer regardless of differences in economic growth rates. c. Economic growth rates tell us nothing about the distribution of output and income in a country. d. All of the above are true.