The impact of recession
a) is, in the aggregate, a more significant factor in social welfare than long run growth
b) is more severe for professionals than for semi-skilled manual laborers
c) is more severe for skilled workers than for unskilled workers
d) causes larger declines in consumption among those aged 26 to 45 than among teenagers
e) is most severe for the poorest members of society
e) is most severe for the poorest members of society
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Knowledge workers have
A) relatively less bargaining power. B) relatively more bargaining power. C) constant bargaining power. D) the management structure above them.
In the diagram, the economy's immediate-short-run AS curve is line ______, its short-run AS curve is _____, and its long-run AS curve is line ______.
A. 1; 2; 4
B. 1; 2; 3
C. 2; 3; 4
D. 3; 2; 1
Assuming that the two key restrictions on preferences fundamental to the median voter model hold, list the condition that must be satisfied for the outcome preferred by median voter to be considered economically efficient
List one real world example that comes close to this condition.
Some have argued that the Federal Reserve looked at the wrong indicator of monetary policy, and that the Fed mistakenly thought that monetary policy was "easy" because ______
a. the stock of money had grown rapidly b. the monetary base had grown rapidly c. market interest rates were low d. bank reserve ratios were low