Strikes are expensive for
a. workers only because their income falls
b. employers only because their revenue falls
c. the public only because output falls
d. both the public and employers because workers are compensated by the union for lost income
e. workers, employers, and the public
E
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According to published data pertaining to unemployment rates in selected European countries, the natural rate of unemployment
a. has been rising over the past three decades. b. declined sharply over the last three decades. c. has been lower than in the U.S. in the 1990s. d. has not changed much over the past three decades. e. Both a and c
The conventional monetary policy to fight inflation would be to
A. increase the rate of monetary growth. B. decrease the rate of monetary growth. C. run budget deficits. D. run budget surpluses.
The direct effect of an increase in the money supply is to
A) raise interest rates as people increase their saving. B) decrease aggregate demand as people anticipate future economic problems. C) increase interest rates as people anticipate higher inflation in the future. D) increase aggregate demand as people try to spend their excess money balances.
What is a "currency drain"? How and why does it affect the money multiplier?
What will be an ideal response?