Inflation tends to ________ during the expansion phase of the business cycle and ________ during the recession phase of the business cycle
A) decrease; decrease further B) increase; increase further
C) increase; decrease D) decrease; increase
C
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If X is a normal good, an increase in income will shift the
A. demand curve for X to the left. B. supply curve for X to the left. C. supply curve for X to the right. D. demand curve for X to the right.
Assuming that all other things are equal, including the wage, which of the following statements is correct?
a. The quantity of labor supplied for difficult jobs exceeds that for easy jobs. b. The quantity of labor supplied for fun jobs exceeds that for dull jobs. c. The quantity of labor supplied for dangerous jobs exceeds that for safe jobs. d. All of the above are correct.
In which of these years was the U.S. poverty rate the highest?
A. 1960 B. 1970 C. 1980 D. 1990
Which of the following does the federal reserve use most often to combat a recession?
a) selling securities b) buying securities c) reducing reserve requirement d) increasing discount rate e) increasing federal funds rate