Government unemployment insurance tends to
What will be an ideal response?
increase the unemployment rate by lowering the opportunity cost of job search.
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Describe the effects of contractionary monetary policy by the domestic central bank on output, the real interest rate, and net exports in both the domestic and foreign country, using a Keynesian model in the short run
What happens in the long run? Show a diagram to illustrate the short- and long-run effects in both countries.
During the antebellum period, the federal government assumed
(a) responsibility for full employment. (b) responsibility for stable prices. (c) responsibility for the overall economy through control of the money supply. (d) little responsibility for most economic matters, leaving them to private individuals in businesses and households.