If the United States government were to impose a quota on wristwatches imported from Switzerland, the:
United States would reduce its export of watches
Prices of watches in Switzerland would rise
Price of watches in the United States would remain the same, but the quantity will fall
Total quantity of watches (domestically produced and imported) purchased would decline
Total quantity of watches (domestically produced and imported) purchased would decline
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What are the three main kinds of unemployment?
A) frictional, seasonal, and cyclical B) structural, frictional, and cyclical C) cyclical, structural, and temporary D) temporary, permanent, and volunteer
If the Fed lowers the reserve requirement, then this
A) decreases excess reserves, causes banks to reduce their loans, and decreases the money supply. B) increases excess reserves, encourages banks to make more loans, and increases the money supply. C) decreases excess reserves, causes banks to reduce their loans, and increases the money supply. D) increases excess reserves, causes banks to reduce their loans, and increases the money supply.
All of the following are examples of electronic funds EXCEPT
A) credit cards. B) debit cards. C) stored value cards. D) e-cash.
What does the coefficient a in the new classical expression for short-run aggregate supply represent?
A) the full employment level of output B) the price level in the previous period C) how much output responds when the actual price level differs from the expected price level D) how much the price level responds when the actual level of output differs from the full employment level of output