If the expansion of a country's exports leads to growth in non-export industries this is called a(n)
A) secondary effect.
B) linkage effect.
C) elementary effect.
D) None of the above.
B
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The duration of unemployment ________ during a recession.
A. remains constant. B. varies between 5 and 14 weeks. C. increases. D. decreases.
The minimum wage is an example of
A) a subsidy for low-skilled workers. B) a price floor. C) a black market. D) a price ceiling.
From an initial long-run macroeconomic equilibrium, if the Federal Reserve anticipated that next year aggregate demand would grow significantly slower than long-run aggregate supply, then the Federal Reserve would most likely
A) decrease interest rates. B) decrease income tax rates. C) increase interest rates. D) increase income tax rates.
A point lying inside the production possibilities curve [PPC] is not an attainable combination
a. True b. False Indicate whether the statement is true or false