Refer to Figure 17-9. Fed Chairman Paul Volcker's response to the ________ of the late 1970s is depicted in the figure above as a movement from C to D to A
A) appreciation of the dollar B) deflation
C) high inflation D) high unemployment
C
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The unemployment rate is the percentage of the:
a. civilian labor force that is unemployed or working part-time. b. civilian labor force that is unemployed. c. civilian labor force that is unemployed less the number of government workers. d. adult population that is unemployed. e. adult population that is unemployed or looking for a better job.
Judy's Gymnastics is one of a number of firms in an area offering children's gymnastics programs. Judy's advertises that her program is different from all the others because of the classical music she plays during classes. Judy's advertising campaign is
a. wasteful since she's in a perfectly competitive market b. unnecessary since she already has a monopoly c. aimed at increasing market share d. an attempt to make the demand for her classes more elastic e. an example of misleading advertising
An unexpected shift to a more expansionary monetary policy will generally
a. stimulate aggregate demand and real output as soon as the policy is instituted. b. exert its primary impact on aggregate demand and real output 6 to 15 months in the future. c. cause inflation in the short run, but expand real output in the long run. d. increase real interest rates in the short run.
Which of the following is NOT a focus of the study of economics?
A) how individual preferences are formed B) unemployment C) inflation D) prices in particular markets