Which of the following can NOT be discussed in a job interview?
a. education and degrees
b. children
c. previous wages
d. personality
Ans: b. children
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
In a small, agricultural nation, consumers buy only steak and potatoes. In 2009, the base year, the typical consumer spent $potatoes on strawberries and $100 on steak. The price of potatoes is $1 and the price of steak is $2 in 2009
In 2009, the price of potatoes is $2 and the price of steak is $1. The CPI for 2010 is A) 80. B) 125. C) 100. D) 110. E) 25 percent.
According to the "beachhead effect," in order to undo the effects of a strong-dollar period, the real value of the dollar
A) must fall to at least half of its value before appreciation of the dollar began. B) must fall to the value it had before appreciation of the dollar began. C) must fall to a much lower level than it had before appreciation of the dollar began. D) must actually appreciate before it depreciates to undo the effects of a strong-dollar period.
According to Okun's law, an increase in which of the following is associated with an increase in unemployment?
A) inflation B) output C) expected inflation D) autonomous expenditure E) potential output