A remarkable feature of the Four Tigers is that economic growth occurred with:
a. no inflation
b. high inflation
c. a relatively equal distribution of income
d. an unequal distribution of income
e. none of the above
C
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A monetary growth rule means that
A) the Fed will raise interest rates if it thinks the economy is growing faster than potential. B) the money supply should grow at a constant rate. C) the Fed will lower interest rates if it thinks a recession is on the horizon. D) the money supply should grow in response to economic conditions.
Which of the following is an example of an unintended consequence?
a. first time tax credits that cause more home sales b. a price ceiling on gasoline that causes a gas shortage and leads some gas stations to go out of business. c. increased parking fines that lead to fewer violators d. all of the above
One of the social benefits of frictional unemployment is that
a. workers get time off from work. b. economic growth is limited. c. workers move from less to more valuable firms. d. wage rates decrease.
A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. a higher labor force participation rate.