Which type of unemployment is most closely connected with the saying "you can't teach an old dog new tricks"?
a. Cyclical.
b. Frictional.
c. Structural.
d. Voluntary.
e. Seasonal.
c
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Current Federal Reserve policy focuses on interest rates, rather than on monetary aggregates, because ________
A) monetary aggregates do not provide clear or consistent signals to guide policymakers B) open market operations affect interest rates more directly than they affect monetary aggregates C) according to the Fisher effect, the interest rate is a key determinant of the inflation rate D) all of the above E) none of the above
Comparative advantage is always a(n) ________ concept
A) absolute B) efficiency C) relative D) monetary
In the market for chewing gum, the current price is 50 cents per pack and 100,000 packs are sold. Which of the following events would lead to a new equilibrium price of 60 cents and quantity of 90,000 packs?
a. an increase in the price of other kinds of candy b. an increase in the price of the ingredients used to make chewing gum c. a decrease in the number of young people in the population d. an agreement by workers in the chewing gum industry to work for lower wages e. an increase in income
A stoppage on an automobile production line caused by a late delivery can cost up to __________________.
a. $1,000-$10,000 per minute b. $10,000-$20,000 per minute c. $10,000-$20,000 per minute d. $10,000-$50,000 per minute e. $10,000-$100,000 per minute