During the early 1990s, many workers in military-related industries lost their jobs as the defense budget was reduced. Unemployment of this type is called
What will be an ideal response?
structural unemployment
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A borrowed reserves target is ________ because increases in income ________ interest rates and discount loans, causing the Fed to ________ the monetary base, everything else held constant
A) procyclical; increase; increase B) countercyclical; increase; increase C) procyclical; reduce; reduce D) countercyclical; reduce; reduce
Public policies designed to increase labor productivity do not include
a. subsidies for higher education. b. tax breaks for job retraining. c. tax breaks on corporate dividends. d. public education.
When economists speak of "demand" in a particular market, they refer to
A. the whole demand curve or schedule. B. one price-quantity combination on the demand schedule. C. one point on the demand curve. D. how much of an item buyers want to buy at a given price.
A worker's skills and knowledge are types of social capital.
Answer the following statement true (T) or false (F)