Describe the behavior of the unemployment rate from the early 1990's to the present.
What will be an ideal response?
The unemployment rate generally fell from the early 1990's up to the early 2000's as the economy expanded. During the recession of the early 2000's, the unemployment rate rose, but started to fall back down again in 2003 through 2006. More recently, unemployment rates have been rising as the economy has experienced a recession.
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The social interest theory of regulation assumes that
A) regulations favor voters over producers. B) regulations promote the attainment of competitive output. C) public officials seek to keep their jobs. D) public officials favor consumers over producers.
Adaptive expectations are "__________" according to the New Classical economists because they __________ information it is possible to use in making a forecast
A) rational; include all B) rational; exclude some C) irrational; include all D) irrational; exclude some
The Fed sets the interest that borrowers pay on loans from
a. the discount window and the term auction facility b. the discount window but not the term auction facility c. the term auction facility but not the discount window d. neither the discount window nor the term auction facility
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.