When people who are willing and able to work cannot find jobs, ________ is said to exist
Fill in the blank(s) with correct word
unemployment
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If U.S. consumers increase their demand for foreign products and foreign travel, the U.S. dollar would tend to depreciate as more dollars are supplied to foreign exchange markets
Indicate whether the statement is true or false
If the cross-price elasticity of demand between two goods is negative, then
a. the two goods are complements b. the two goods are substitutes c. as price of one good rises, the quantity demanded of the other good also rises d. one of the goods must be inferior e. the two goods are rarely used together by consumers
Which of the following functions of money enables society to gain the benefits of geographic and labor specialization?
A. Unit of account B. Store of value C. Medium of exchange D. Medium of deferred payment
When central bankers are acting preemptively they are:
A. aggressively trying to hit a zero inflation target. B. usually focused on reducing expansionary gaps. C. letting markets work and taking a wait and see approach. D. taking bold steps to stabilize the economy.