An "unemployment spell" is a period during which:
A. an unemployed individual leaves the labor force and then returns.
B. an individual is continuously unemployed.
C. the unemployment rate exceeds 15 percent.
D. the unemployment rate is less than 10 percent.
Answer: B
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Spending a lot on advertising is a credible signal because it:
A. conveys the firm's confidence in the high quality of their product. B. persuades the consumer to perceive high quality of a product, even if it doesn't exist. C. conveys the firm's confidence in its ability to convince the consumer to buy. D. None of these explains why advertising can be a credible signal.
According to Keynesians, an increase in saving will not cause national income to fall
a. as long as autonomous consumption is greater than zero b. if the price level remains unchanged c. if it results from a decrease in aggregate expenditure d. if it is accompanied by a decrease in aggregate expenditure e. if it results from an increase in aggregate expenditure
Oligopolistic firms never collude because they have almost no incentive to do so.
Answer the following statement true (T) or false (F)
The money multiplier is much lower today than it was twenty-five years ago because:
A. people are holding less currency today. B. credit cards are more widely used. C. there is less currency available today. D. the currency-to-deposit ratio is much higher today.