According to research by Stock and Watson, the recent decline in volatility in many macroeconomic variables was a
A) sudden drop that occurred around 1984.
B) gradual decline throughout the 1980s.
C) sudden drop that occurred around 1990.
D) gradual decline throughout the 1990s.
A
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Which of the following decreases the official U-3 unemployment rate?
A) Workers leave the labor force. B) More women enter the labor force and seek jobs. C) Young people graduate from college and start to look for their first full-time job. D) None of the above because they all increase or do not change the unemployment rate.
The tax multiplier is calculated as "one minus the government purchases multiplier."
Indicate whether the statement is true or false
Under the Federal Reserve Act, which banks must be members of the Federal Reserve System?
A) all commercial banks B) national banks C) state banks D) all banks with capital in excess of $100 million
If a perfectly competitive firm produces an output level at which price is greater than marginal cost, then the firm should:
A. leave its output decision unchanged because it is earning a profit. B. employ more fixed factors of production. C. expand output to earn greater profits or smaller losses. D. reduce output to earn greater profits or smaller losses.