Unemployment rates typically increase dramatically from December to January because the holiday sales season ends. For this reason, it is best to
A. focus on November/December decreases.
B. focus on January increases.
C. politically adjust the data.
D. seasonally adjust the data.
Answer: A
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The result of British currency policy after World War I
A) left the country with painfully high interest rates and unemployment for years. B) left the country well positioned for the roaring twenties that followed. C) gave the country a tremendous advantage when the Smoot-Hawley Act was passed in the U.S. D) left the country at a tremendous disadvantage when the Smoot-Hawley Act was passed in the U.S.
In Figure 3-7 above, the marginal propensity to save is
A) 1. B) 5. C) 0.5. D) 0.2.
The sudden explosion of cheap and readily available mortgages encouraged people to:
A. buy bigger and better homes. B. become less risk-averse. C. become more risk-averse. D. securitize their investments.
Specialization: a. is a way for individuals to make the best use of resources by devoting themselves to one primary productive activity. b. is a way for society to become wealthier while not using their resources
c. is a way for people to avoid having to trade. d. increases one's opportunity cost of the activity they choose to specialize in.