During a recession, the
A) cyclical rate of unemployment is positive. B) natural rate of unemployment has fallen.
C) cyclical rate of unemployment is zero. D) cyclical rate of unemployment is negative.
A
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Suppose the world price of widgets is $5 each. If a widget-importing country imposed a $2 per widget tariff, what price would that country's consumers pay for widgets?
A) $10 B) $7 C) $5 D) $3 E) A price that is greater than $5 and less than $7
The quantity theory of money was derived from the quantity equation by asserting that
A) real output was fixed. B) the money supply was fixed. C) the velocity of money was zero. D) the velocity of money was fixed.
Eugene White's 1989 study did NOT find that:
a. an increased willingness on the part of New York banks to supply call loans caused the bull market. b. interest rates on call loans increased by roughly 50% from 1922 to 1929. c. credit was being pulled into the stock market by rising interest rates on call loans. d. White's study found all of these things to be true.
Refer to Figure 16.3. A shift from AS3 to AS2 could be caused by
A. A decrease in the money supply. B. An increase in the marginal tax rate. C. An increase in the investment in human capital. D. A decrease in government spending.