The rise in unemployment that occurs because of a recession is known as frictional unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following defines marginal utility?
A. the total satisfaction or happiness received from the consumption of a good, service, or combination of goods and services B. the additional satisfaction or happiness received from the consumption of an additional unit of a good or service C. the maximum amount of satisfaction or happiness derived from consuming a product D. the change in total utility divided by the price of a product
A nation's annual growth rate of real GDP per person is 2 percent. Its standard of living will
A) double in 35 years. B) not change because its population is growing. C) fall because of its population growth. D) double in 10 years. E) double in 50 years.
Which of the following are primary functions of a central bank?
I. act as a regulator of banks II. issue government bonds III. set monetary policy IV. regulate dividend payments by corporations A) I, II, III, and IV B) I, II, and III C) I and III D) I and II
If expectations about the future don't change at all, then an economic downturn will generally:
A. increase savings at a given interest rate and shift the supply curve for loanable funds to the right. B. decrease savings at a given interest rate and shift the supply curve for loanable funds to the right. C. decrease savings at a given interest rate and shift the supply curve for loanable funds to the left. D. increase savings at a given interest rate and shift the supply curve for loanable funds to the left.