From 1929 to 2013, the unemployment rate in the U.S. ________
A) has continued to grow but has always remained well above zero
B) has fluctuated around zero
C) has gone up and down but has always remained well above zero
D) has decreased in most recessions
E) has grown by a factor of four
C
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Most governments subsidize basic education because
A) there are external costs associated with well educated citizens. B) the marginal social benefit of education is greater than the marginal private benefit. C) of the existence of private schools. D) None of the above answers are correct.
The Solow model predicts that the standard of living in poorer nations will converge on that of richer nations through rapid capital formation that raises output per person
The introduction of technological change to the model ________ change this prediction because technology ________ assumed to be freely available to all countries. A) does, is B) does, is not C) does not, is not D) does not, is
A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the bank is required to keep reserves equal to one-third of deposits, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. zero; zero b. $300,000; $300,000 c. $300,000; $900,000 d. $700,000; $2,100,000
The idea that aggregate demand fluctuates due to irrational waves of pessimism by households and firms is known as _____
Fill in the blank(s) with correct word