According to advocates, if the government adopts expansionary monetary policy during a recession, ________.
A) interest rates increase
B) access to credit increases
C) government spending falls
D) tax rates increase
Answer: B) access to credit increases
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If a country's income level is high:
A. it must have a high level of growth. B. it usually has a high level of GDP per capita. C. it must be well-endowed with natural resources. D. All of these are true.
Many economists think that, in the long run, the Phillips curve is
a. a horizontal line. b. a vertical line. c. the same as the short-run curve. d. a 45-degree line from the origin.
Which of the following is not a characteristic of less-developed countries?
A. high rates of illiteracy B. high unemployment C. low infant mortality rates D. low savings and investment rates
Wait unemployment and search unemployment are both types of:
A. cyclical unemployment. B. hidden unemployment. C. frictional unemployment. D. structural unemployment.