In the history of the United States, unemployment reached its highest rate
A) in the Panic of 1893.
B) in the 1930s.
C) in the period between World War II and the Korean War.
D) in the Great Recession of the late 2000s.
B
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When you use a debit card to purchase a pair of jeans, you are
A) creating a 30-day loan from your bank to the seller. B) creating a 30-day loan from the seller to your bank. C) giving your bank an instruction to transfer funds directly from your bank account to the store's bank account. D) creating an overnight repurchase agreement between your bank and the store.
The most important job of the Federal Reserve is to ______.
Fill in the blank(s) with the appropriate word(s).
What happens to the piece rate if there is a ratchet effect?
A. It is replaced with a salary contract. B. It increases over time. C. It is only paid to the least productive workers. D. It is replaced with a time rate. E. It decreases over time.
The term market power refers to
A. The government's ability to change market outcomes. B. The government's authority to tax businesses. C. A firm's ability to alter the market price or quantity of a good or service. D. A firm's ability to eliminate free riders.