The decline in the natural rate of unemployment between the 1970s and the 2000s might be the result of:
A. increasing wage inequality and skill-biased technological change.
B. greater quantities of human capital and increased average labor productivity.
C. the changing age structure of the population and more efficient labor markets.
D. advances in computer technology and globalization.
Answer: C
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If the money supply grows at 6% and the inflation rate is 2%, the quantity theory predicts that the change in real GDP will be
A) 0.33%. B) 3%. C) 4%. D) 8%.
Which of the following statements is true concerning DRGs?
a. Soon after their implementation in 1983, the average length of stay in U.S. hospitals fell significantly. b. Hospital operating margins fell dramatically immediately after implementation of the program. c. The system encourages over-treatment of elderly patients. d. The system encourages physicians to over-diagnose. e. Both a and d are true.
Suppose that Emily opens a restaurant. She receives a loan from a bank for $200,000 . She withdraws $100,000 from her personal savings account. The interest rate on the loan is 6%, and the interest rate on her savings account is 2%. Emily's annual explicit cost of capital is
a. $2,000. b. $4,000. c. $12,000. d. $14,000.
Which of the following is included in M2 but not in M1?
a. demand deposits b. corporate bonds c. large time deposits d. money market mutual funds