Which of the following are policies that can affect natural unemployment?
a. adjust interest rates
b. provide welfare assistance
c. adjust availability of money and loans
d. increase aggregate demand
b. provide welfare assistance
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A stereo system in Mexico costs 3,200 Mexican pesos. If the dollar price of one Mexican pesos is $0.11, then the U.S. dollar value of the same stereo system is $352
a. True b. False Indicate whether the statement is true or false
Which of the following assumptions is required for obtaining unbiased fixed effect estimators?
A. The errors are heteroskedastic. B. The errors are serially correlated. C. The explanatory variables are strictly exogenous. D. The unobserved effect is correlated with the explanatory variables.
Over the last four decades, our unemployment rate has generally been between
A. 2-6 percent. B. 4-8 percent. C. 6-10 percent. D. 10-14 percent. E. 14-18 percent.
We say that a good has elastic demand whenever the absolute value of the price elasticity of demand is greater than one. A one percent change in price therefore causes
A. a greater than one percent change in quantity demanded. B. a change of less than one percent in the quantity demanded. C. exactly a one percent change in the quantity demanded. D. a change that cannot be determined based on one percent.