Classical unemployment can be caused by which of the following?
A. Minimum wage laws
B. Bargaining by unions
C. Efficiency wages
D. All these create classical unemployment.
D. All these create classical unemployment.
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Recessions in the United States typically are:
A. widely felt outside the United States. B. confined to the domestic economy. C. limited to specific regions of the country. D. limited to a few industries.
Which the following is NOT an exogenous factor affecting economic growth that countries caught in a "poverty trap" might utilize to encourage economic growth?
A) human capital B) political capital C) infrastructure D) geographical location
The fractional reserve characteristic of the banking system allows banks to create money and also create wealth from bank deposits. Describe why this statement is or is not true
An asset's liquidity refers to its ability to be:
A. Bought and stored B. Increasing in value over time C. Used and enjoyed D. A means of payment