The natural rate of unemployment in the United States generally ________ from 1960 to 1980 and ________ from 1980 to 2000
A) fell; rose
B) fell; fell
C) rose; fell
D) rose; rose
C
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Mutually beneficial trade is impossible when different persons have different preferences about goods and services.
Answer the following statement true (T) or false (F)
What does it mean that the Fed is the lender of last resort?
a. The Fed is the only institution that lends to banks. b. The Fed lends to banks before other institutions will loan money to them. c. The Fed lends to banks when no one else will loan money to them. d. The Fed ensures that other institutions will lend money to banks.
If demand is unitary elastic, a price decrease results in
a. an increase in total seller's total revenue b. no change in total seller's total revenue c. a decrease in total expenditure on the good d. a decrease in quantity demanded of the good e. an increase in supply of the good
The theory that the world's population will eventually outrun its food supply was formulated by
A. Robert Gordon. B. Mancur Olson. C. Edward Denison. D. Thomas Malthus.