If you have trouble finding a job because of a slowdown in the overall economy, we would say that you are
A) cyclically unemployed. B) frictionally unemployed.
C) seasonally unemployed. D) structurally unemployed.
A
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At $6 per steak, consumers are willing to buy two steaks. At a price of $2, consumers are willing to buy six steaks. The elasticity of the market demand curve between P = $6 and P = $2 (dropping all minus signs) is
A. 0.33. B. 1 C. 2 D. 4
Assume a price elasticity of demand of 0.50. If the tobacco lobby is successful in reducing a tax on the price of cigarettes by 10 percent, the quantity demanded will:
A. Decrease by 5 percent. B. Decrease by 2 percent. C. Increase by 5 percent. D. Increase by 2 percent.
A decrease in interest rates by the Fed based on a given and unchanged policy reaction function represents a ________ the aggregate demand curve, and lower interest rates resulting from a downward shift in the Fed's policy reaction function represents a ________ the aggregate demand curve.
A. movement down; shift right of B. shift left of; movement up C. shift left of; shift right of D. movement up; movement down
Which of the following is the objective of expansionary monetary policy?
a. An increase in employment. b. A decrease in employment. c. An increase in the velocity of money. d. An increase in prices proportional to the rise in the money supply.