The target rate of inflation for the ECB is
(a) Above 2%;
(b) Below, but close to, 2%;
(c) 0%;
(d) None of the above, because the ECB targets a rate of deflation.
Answer: (b) Below, but close to, 2%;
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Firms engage in explicit collusion when:
A. they predict what the other will do and attempt to undercut them. B. they collude without communicating, sustaining a price above the noncooperative price that would arise in a single competitive interaction. C. they communicate to reach an agreement about the prices they will charge. D. they communicate what type of good they will produce.
How is the U.S. federal income tax structured?
A. The rate at which income is taxed decreases as income increases B. The rate at which is taxed increases as income increases. C. All taxpayers pay the same tax rate.
The Great Depression occurred in the early:
A. 1950s. B. 1960s. C. 1930s. D. 1900s.
During a recession, the unemployment rate ________ and the percentage of part-time workers who are involuntary part-time workers ________
A) rises; rises B) rises; falls C) falls; rises D) falls; falls E) rises; does not change