Recessions
a. almost never occur in the American economy.
b. follow a regular and predictable cycle.
c. are common features of the American economy.
d. have been abolished by wise macroeconomic policy.
c
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Policies based on normative economic ideas tend to increase economic efficiency and improve equity
Indicate whether the statement is true or false
Much of macroeconomics is concerned with advising governments on ways to ________ business cycles, since it is desirable to ________
A) amplify, create the greatest cyclical peaks possible B) amplify, create deep recessions to cool down the economy C) dampen, avoid both very low troughs and very high peaks D) dampen, keep the economy at its maximum productive capacity
The immediate objective of a nominal anchor is to reduce the variability of ________
A) monetary policy targets B) expected inflation C) aggregate demand D) central bank credibility
A water bottle manufacturing plant uses a three-step procedure to produce each unit of bottle. The first step is casting, which needs 35 workers to operate the furnace. The second step is quenching, which needs 35 workers. At the third step, bottles are prepared for dispatch in the assembly line with the help of 70 workers. If the factory produces 14,000 bottles per day, then the productivity of
labor in the factory is equal to _____. a. 200 bottles per worker b. 400 bottles per worker c. 100 bottles per worker d. 140 bottles per worker e. 220 bottles per worker