The unemployment rate:
A. increases before the start of a recession.
B. decreases during recessions.
C. increases only after the recession has ended.
D. increases during recessions.
Ans: D. increases during recessions.
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The theory of efficiency wages suggests that
a. above-equilibrium wages increase worker productivity. b. workers with higher levels of education earn more than workers with lower levels of education. c. workers signal their high ability to potential employers by completing formal years of schooling. d. union workers earn more than nonunion workers.
The quantity theory of money states that if the money supply doubles and output is constant, prices will:
A. fall by half. B. remain the same. C. double. D. fall only if velocity rises.
Which of the following is NOT an objective of economic regulation?
A) to regulate the prices enterprises are allowed to charge B) to fix prices so that they are never allowed to rise C) to keep rates of return in an industry at a competitive level D) to prevent monopoly profits
Our net investment income from foreign countries is
A. greater than foreign investor's income from U.S. investments. B. less than foreign investor's income from U.S. investments. C. about the same as foreign investor's income from U.S. investments. D. less than half foreign investor's income from U.S. investments.