During the Great Depression of the 1930s, the unemployment rate reached more than _________ of the labor force
a) 25%
b) 65%
c) 45%
d) 85%
Answer: a) 25%
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"In the 1980s the pain which results from a large government deficit was deferred, placed on future taxpayers since foreigners loaned money to the government to pay the debt." Gordon suggests that this "pain" maybe deferred forever if
A) the government uses the "deficit funds" to provide taxpayers increased future benefits from which to pay the interest to foreigners. B) monetary policy is tighter in the future. C) fiscal policy is tighter in the future. D) B and C are correct.
Explain how each of the following industries practices price discrimination. a. Movie theaters b. Airlines c. Auto dealers d. U.S. Postal Service
What will be an ideal response?
When firms exit a monopolistically competitive market: a. product variety diminishes
b. prices fall. c. profits decrease (losses increase). d. the demand curves of established firms shift to the right.
What does macroeconomic theory predict as the main economic effect of a reduction in the budget deficit?
a. lower real interest rates b. a drop in the exchange rate c. an increase in net exports d. All of the above are correct.