The highest post World War II unemployment rate occurred
A. in 2001.
B. in 1982.
C. in 2009.
D. in 1974.
Answer: B
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Many researchers blame the severity and length of the Great Depression on the breadth and depth of government interference in private market affairs
Indicate whether the statement is true or false
Assume the market is in equilibrium in the graph shown at demand D and supply S1 (at a quantity of 5). If the supply curve shifts to S2, and a new equilibrium is reached (at a quantity of 7), which of the following is true?
A. Total surplus increases by $12.50.
B. Total surplus decreases by $12.50.
C. Total surplus increases by $15.50.
D. Total surplus decreases by $15.50.
A bank has an 8 percent reserve requirement, $10,000 in deposits, and has loaned out all it can given the reserve requirement
a. It has $80 in reserves and $9,920 in loans. b. It has $800 in reserves and $9,200 in loans. c. It has $1,250 in reserves and $8,750 in loans. d. None of the above is correct.
Suppose Russia can produce either 600 pianos or 400 HDTVs, and Italy can produce either 300 pianos or 150 HDTVs. Implicitly, Russia has
A. Both an absolute and a comparative advantage in HDTVs. B. Neither a comparative nor an absolute advantage in HDTVs. C. An absolute but not necessarily a comparative advantage in HDTVs. D. A comparative but not necessarily an absolute advantage in HDTVs.