Which of the following situations is one in which the Fed will potentially pursue expansionary monetary policy?
A) Aggregate demand is growing too fast to keep the economy at full employment.
B) Potential GDP is forecasted to be lower than equilibrium GDP.
C) Potential GDP is forecasted to be higher than equilibrium GDP.
D) Aggregate demand is growing too slowly and the economy is in danger of producing GDP above full employment.
C
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The discovery of a new oil field has attracted several new investors to Oiland. How will this affect Oiland's labor demand curve?
What will be an ideal response?
Which type of unemployment arises when changes in technology or international competition change the skills needed to perform jobs or change the location of jobs?
A) frictional B) structural C) cyclical D) skill-set E) fluctuating
In the figure above, the single-price, unregulated monopoly sets a price of
A) $80 per unit. B) $60 per unit. C) $40 per unit. D) $0 per unit.
A cartel:
a. is a group of firms formally agreeing to control the price and the output of a product. b. has as its primary goal to reap monopoly profits by replacing competition with cooperation. c. is illegal in the United States, but not in other nations. d. all of these.