The worldwide slowdown in labor productivity began in the early
a. 1960s.
b. 1970s.
c. 1980s.
d. 1990s.
B
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One purpose of discretionary fiscal policy is to
A. increase government spending during a recession. B. reduce inflation during an expansion. C. reduce inflation during a recession. D. increase taxes during an expansion.
The type of unemployment that arises from a decrease in real GDP is called
A) frictional unemployment. B) structural unemployment. C) downturn unemployment. D) non-expansion unemployment. E) cyclical unemployment.
All of the following were significant changes in the mortgage market in the 2000s EXCEPT
A) investment banks became significant participants in the secondary mortgage market. B) lenders loosened lending standards. C) mortgage-backed securities became more popular with investors. D) borrowers tended to increase the amount of their down payments.
If a deal looks too good to be true
a. The seller most likely made a mistake b. Be cautious. It probably is too good to be true c. Trust the seller to give you a good deal d. A good deal is a good deal. Go for it.