What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?
A. print more money
B. buy back government bonds on the open market
C. sell more government bonds
D. encourage the stock market
Answer: C
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The unemployment rate is
A) the percentage of the labor force that is unemployed. B) the percentage of the number employed that is unemployed. C) the percentage of the working-age population that is employed. D) the percentage of the working-age population that is unemployed. E) the percentage of the labor force that is employed.
Frederic Bastiat's, "A Petition From the Candlemakers", presents a satirical view of protectionism because
A. it pictures the sun as an unfair foreign competitor. B. it argues the government should ban all imports. C. it makes consumer preferences for foreign products the source of trade problems. D. it makes domestic workers the source of all trade problems.
The number of seats available in a stadium is fixed at 80,000. The equilibrium price for a ticket to a football game at the stadium is $30. The equilibrium price for a ticket to a baseball game at the stadium is $20. Which of the following is true?
A. The supply of baseball games must be less elastic than the supply of football games. B. The demand for each baseball game must be lower than the demand for each football game. C. Football games must be more expensive to produce than baseball games. D. The demand for baseball games must be more elastic than the demand for football games.
In Country X, the highest 10 percent of families account for 70 percent of the income. In Country Y, the highest 10 percent of families account for 20 percent of the income. In this example:
a. Country Y would be located on the line of perfect inequality. b. income is more equally distributed in Country Y. c. income is more equally distributed in Country X. d. Country X would be located on the line of perfect equality. e. the degree of income inequality is equal in both the countries.