During periods of recession unemployment:
A. rates are the same for all groups of the working population.
B. is less common.
C. is uncorrelated to periods of recession.
D. is more common.
Answer: D
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Under a fixed exchange rate system, the central bank of a country experiencing a balance of payments surplus will:
A) increase the supply of domestic currency to prevent currency depreciation. B) increase the demand for domestic currency to prevent currency depreciation. C) increase the supply of domestic currency to prevent a currency appreciation. D) increase the demand for domestic currency to prevent a currency appreciation.
Which of the following labor resources will likely have the most elastic supply schedule in the short run?
a. nuclear physicists b. surgeons c. retail cashiers d. graduate-level math professors
Refer to the information provided in Figure 23.1 below to answer the question(s) that follow.
Figure 23.1Refer to Figure 23.1. The ________ for this household is 0.5 and the ________ is also 0.5.
A. MPC; MPS B. consumption function; saving function C. MPS; saving function D. MPC; consumption function
Refer to the diagram. Point b would not be permanent because the:
A. economy would move from b to a on PC 1 .
B. short-run Phillips Curve would shift from PC 1 to PC 2 and unemployment would increase to the natural rate at c.
C. economy would immediately move from b to c to d.
D. economy would move from b directly to d.