Unemployment is not caused by
A. drops in actual GDP.
B. persons looking for more suitable jobs.
C. inflation.
D. technological disruption.
Answer: C
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If a product has an elastic demand, it means that:
a. consumers are relatively sensitive to a change in the price of the product. b. consumers are relatively insensitive to a change in the quantity demanded of the product. c. consumers are relatively insensitive to a change in the price of the product. d. producers are relatively insensitive to a change in the price of the product. e. producers are relatively sensitive to a change in the quantity demanded of the product.
Prior to 2008, the primary tool used by the Fed to control the money supply was
a. the manipulation of the required reserve ratio banks must hold against their checking deposits. b. the extension of loans to financial institutions. c. the buying and selling of stocks and corporate bonds. d. the buying and selling of U.S. Treasury securities.
Economists describe the stock market as being a ______.
a. wild ride b. random walk c. leisurely stroll d. dead run
Define international trade and international financial transactions. Give an example of each one.
What will be an ideal response?