After the 1982 recession, the U.S. and world economies entered into a long period
a. of high unemployment rates.
b. high inflation rates.
c. that has become known as the "Great Moderation.".
d. that has become known as the "Great Recession.".
c
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A monopsony owner believes that hiring an additional worker would increase the company's revenue by $150 per day. We can conclude that the monopsony pays its workers:
A. more than $150 per day. B. exactly $150 per day. C. less than $150 per day. D. exactly $75 per day.
Which of the following is a true statement about signaling games?
a. In a separating equilibrium, the second mover's posterior beliefs are the same as his priors. b. In a separating equilibrium, Bayes' rule cannot be used to compute posterior beliefs (because it produces an undefined answer). c. In a pooling equilibrium, both the first and second movers choose the same action. d. In a pooling equilibrium, the second mover learns nothing from the first mover's action.
The term "import" refers to:
a. a purchase of goods or services from another country. b. a business transaction between two or more domestic firms. c. a sale of goods or services to another nation. d. a tax on foreign merchandise. e. a trade agreement between two industrial countries.
When a free market for a good reaches equilibrium, anyone who is willing and able to sell at the market price can sell the good
a. True b. False Indicate whether the statement is true or false