Which of the following people would be considered unemployed assuming that they are actively seeking employment?
A. those who resigned from their job
B. new entrants into the job market
C. those who were fired from their job
D. All of these are correct.
Answer: D
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Suppose the market-clearing interest rate on loans is 12%, but law-makers impose an 8% interest rate ceiling. The new law will tend to
A) increase the supply of loans. B) decrease the supply of loans. C) increase the demand for loans. D) decrease the demand for loans. E) do none of the above.
The "discount rate" is the rate used by the Fed when
A) the Fed extends a short-term loan directly to a commercial bank. B) the Fed extends a short-term loan to one of the regional Federal Reserve banks. C) the Fed calculates the present value of particular long-term investment projects. D) the Fed makes cash available for the federal government.
Define economics and describe its branches of study
What will be an ideal response?
Because of the income effect, a higher wage rate
A) shifts the supply of labor curve leftward. B) shifts the supply of labor curve rightward. C) leads to a decrease in quantity of labor supplied. D) leads to an increase in quantity of labor supplied.