Minimum wages create unemployment in markets where they create a
a. shortage of labor. Unemployment of this type is called frictional.
b. shortage of labor. Unemployment of this type is called structural.
c. surplus of labor. Unemployment of this type is called frictional.
d. surplus of labor. Unemployment of this type is called structural.
d
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In the United States, the ________ has the official responsibility for foreign exchange intervention
A) State Department B) International Trade Commission C) Department of Commerce D) Treasury Department
If individuals are convinced that the government will take care of all their medical needs after they retire, then
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward.
One News Wire article in the text is titled "Fed Cuts Key Interest Rate Half-Point to 1 Percent." Which of the following is the Fed trying to accomplish as a result of this action?
A. A leftward shift of aggregate demand. B. A rightward shift of aggregate demand. C. A leftward shift of aggregate supply. D. A rightward shift of aggregate supply.
Other things the same, a country that decides to reduce inflation will
a. have a higher unemployment rate in the short run and the long run. b. have a higher unemployment rate only in the long run. c. have a higher unemployment rate only in the short run. d. not have a higher unemployment rate in either the short run or the long run.