A consumer who has chosen the right mix of goods and services to maximize his or her utility is said to have achieved
A) consumer equilibrium.
B) consumer benefit.
C) consumer surplus.
D) consumer optimum.
Answer: D
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The unemployment rate will increase whenever there is a(n):
a. increase in the number of persons classified as unemployed. b. increase in the number of unemployed persons relative to the size of the labor force. c. increase in the size of the U.S. population and there is no change in the number of persons classified as employed. d. reduction in the size of the labor force. e. reduction in the size of the civilian labor force while the number of unemployed decreases.
During the course of a bad recession the Fed would probably be doing each of the following, except
A. selling securities on the open market. B. lowering interest rates. C. lowering reserve requirements. D. lowering the discount rate.