In the 2008-09 recession, the percentage of part-time workers due to economic reasons
A) rose to almost 18 percent.
B) did not include teenagers.
C) equalled the unemployment rate for those who are part-time workers due to non-economic reasons.
D) decreased slightly over the period.
E) doubled from 3 percent to 6 percent.
E
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Higher rates of inflation reduce spending because:
A. the Fed reacts to the higher inflation by lowering interest rates. B. the real value of money increases. C. the reduction in wealth, resulting from the reduced real value of money, restricts spending. D. resources are redistributed from low-spending households to high-spending households.
The smaller the extent of job rationing, the
A) higher the labor supply. B) lower the labor force participation rate. C) lower potential GDP. D) higher the real wage rate. E) lower the unemployment rate.
If prices in the bond market become more volatile, everything else held constant, the demand curve for bonds shifts ________ and interest rates ________
A) left; rise B) left; fall C) right; rise D) right; fall
Fractional reserve banking refers to a banking system in which
A) bank deposits are less than bank reserves. B) bank reserves are only a fraction of total deposits. C) bank reserves are only a fraction of required reserves. D) bank loans are less than bank reserves.