How many times in the last 80 years has the official unemployment rate in the United States reached 0 percent?
a. 0
b. 1
c. 2
d. 3
e. 4
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
The required reserve ratio is 10 percent, and the potential change in demand deposits is $100 million. What are original excess reserves?
A) $10 million B) $100 million C) $1 million D) $1 billion
Increases in the supply of scientists and engineers can increase the level of
a. investment. b. consumption. c. government spending. d. technology.
Competition between oligopolists drives:
A. collusion to happen frequently. B. some firms out until the market becomes a monopoly. C. price and profits down to the perfect competition level. D. price and profits down to below the monopoly level.