The interest rate that banks charge when they lend each other their excess reserves is called the _____ rate.
Fill in the blank(s) with the appropriate word(s).
federal funds
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The natural rate hypothesis asserts that in the ________, the money wage rate is fixed and the ________ in the inflation rate brings a(n) ________ in the unemployment rate
A) short-run; decrease; increase B) short-run; increase; increase C) short-run; decrease; decrease D) short-run; increase; decrease E) long-run; increase; decrease
All people in the working-age population can be divided into
A) labor force participants. B) employed, unemployed, or not in the labor force. C) either over-employed or under-employed. D) potential employees.
Refer to above Table 2-2. The geometric average of the increase in real GDP between year 1 and year 2 is
A) 3.1%. B) 3.2%. C) 3.3%. D) 3.8%.
Lump sum taxation is an attractive policy tool.
A. True B. False C. Uncertain