Give an example of a frictionally unemployed person
What will be an ideal response?
A person who is without a job because of a normal labor market turnover is frictionally unemployed. For instance, a student who just graduated from school and is looking for a job is frictionally unemployed as is a worker who quit to look for a better job.
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A television report states: "The Federal Reserve will lower the discount rate for the fourth time this year." This report indicates that the Federal Reserve is most likely trying to ________.
A. save the banking industry B. improve the savings rate C. stimulate the economy D. reduce inflation
By definition, when the economy is in equilibrium it must be true that
A) leakages equal injections. B) saving equals investment. C) government spending equals taxes. D) exports equal imports.
The study of how consumers and producers interact in individual markets is
a. macroeconomics b. labor economics c. microeconomics d. econometrics e. development economics
Which of the following statements is NOT true?
A. The supply of money decreases when the Federal Reserve Banks buy government securities from households or businesses. B. Excess reserves are the amount by which actual reserves exceed required reserves. C. Commercial banks increase the supply of money when they purchase government bonds from households or businesses. D. Commercial bank reserves are an asset to commercial banks but a liability to the Federal Reserve Banks.