The Business Cycle Dating Committee, a part of the ________, officially decides when a recession begins and ends
A) National Bureau of Economic Research B) federal government
C) Bureau of Labor Statistics D) Federal Reserve
A
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If the labor supply curve is upward-sloping, an adverse supply shock causes ________ in employment and ________ in the real wage
A) no change, a decrease B) a decrease, a decrease C) a decrease, no change D) a decrease, an increase E) an increase, an increase
To eliminate a recessionary gap, the Fed can: a. increase the money supply as it will increase the interest rate and investment
b. increase the money supply as it will decrease the interest rate and increase investment. c. decrease the money supply as it will increase the interest rate and investment. d. decrease the money supply as it will decrease the interest rate and investment. e. decrease the money supply as it will increase the interest rate and decrease investment.
A currency swap can
A. make the foreign exchange rate more volatile over time. B. make foreign goods more expensive in the domestic market. C. make domestic goods more expensive in foreign countries. D. reduce foreign exchange risk.
A problem with comparing macroeconomic models is that
A. macroeconomic models cannot be expressed in mathematical terms. B. people may change how they react when economic policies are changed. C. macroeconomic models must meet government standards for uniformity. D. macroeconomic models do not predict the same outcomes from policies.