Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:
a. structural unemployment.
b. involuntary unemployment.
c. frictional unemployment.
d. cyclical unemployment.
a
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Which of the following goods is likely to have an income elasticity of demand that is less than zero?
a. A luxury yacht b. A beach house c. A state-of-the-art cellular phone d. A box of generic macaroni and cheese dinner e. A dinner at a French restaurant
Required reserves represent
A. Dollars that may be lent. B. A flaw in the banking system. C. A leakage from the flow of money. D. The desire on the part of some banks to hold funds and not lend them out.
During recessions, government spending usually
A. decrease because unemployment payments increase. B. decreases because unemployment payments decrease. C. increases because unemployment payments decrease. D. increases because unemployment payments increase.
Increasing house prices
What will be an ideal response?