Price ceilings in the U.S. on retail gasoline sales in the 1970s caused
A) massive and prolonged shortages.
B) increased advertising of gasoline.
C) longer hours of operation at most service stations.
D) poor people to be assured of an adequate supply of gasoline.
A
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Assuming all excess reserves are loaned out, if the reserve ratio is 25 percent, the money multiplier will be equal to
A) 0.5. B) 2.5. C) 4. D) 5.
The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey
a. True b. False Indicate whether the statement is true or false
Unemployment caused by people voluntarily leaving their jobs is classified as
A) part-time unemployment. B) cyclical unemployment. C) frictional unemployment. D) seasonal unemployment.
Producers' total revenue will decrease if
A) income increases and the good is a normal good. B) the price rises and demand is elastic. C) the price rises and demand is inelastic. D) income falls and the good is an inferior good.