Which of the following decreases the natural unemployment rate?
A) higher oil prices
B) a recession
C) a decrease in aggregate demand so that fewer workers are needed
D) many young people entering the labor force
E) rapid technological change that increases the demand for labor
E
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Which of the following is NOT included in the money supply when the transactions approach is used?
A) currency B) traveler's checks C) money market deposit accounts D) transaction deposits
List the Fed's four main monetary goals
What will be an ideal response?
If the government wants to decrease the quantity consumed of cigarettes 20%, what percentage of tax would they have to levy on cigarette consumption?
a. 20% b. 30% c. 40% d. 50%
Three airlines account for most of the air traffic in and out of a local city. If the three airlines joined together in setting fares and air travel schedules, economists would say that they were acting as: a. monopolistic competitors, as each firm would have to differentiate its airline services from its rivals
b. perfect competitors, as each firm would sell travel services at the same fares as the other airlines. c. a cartel, as the three airlines together would attempt to coordinate policies in the local market to jointly maximize profits. d. none of the above