Which of the following would decrease the unemployment rate?
A) an increase in the minimum wage
B) an increase in the efficiency wage
C) an increase in labor union membership
D) government aid to retrain unemployed workers
Answer: D
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Which of the following represents a preventative measure against bank runs?
A) The President of the United States can order banks to pay depositors. B) The Federal Reserve can lower reserve requirements to ensure that banks have sufficient funds. C) The FDIC provides deposit insurance. D) None of the above is correct.
Interlocking directorates are illegal under the Clayton Act whether or not the effect is to lessen competition substantially
a. True b. False Indicate whether the statement is true or false
The benefit of holding money is ________, while the opportunity cost of holding money is ________.
A. the nominal interest rate; the fees charged by banks B. increased income; lost purchasing power C. its usefulness in carrying out transactions; the nominal interest rate D. the nominal interest rate; its usefulness in carrying out transactions
The two characteristics of a competitive market are 1) many buyers and sellers in the market and 2) the goods offered by the various sellers are highly differentiated.
a. True b. False Indicate whether the statement is true or false