The increase in the average unemployment rate in the 1970s was the result of
A) higher real wage rates.
B) an increase in the birth rate in the early 1970s.
C) repeated increases in the minimum wage.
D) an increase in the birth rate in the late 1940s and early 1950s.
E) the reduction of overly generous unemployment benefits in the 1970s.
D
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An example of a fiscal stimulus is
A) increasing the quantity of money. B) lowering the interest rate. C) decreasing government expenditure. D) decreasing needs-tested spending. E) cutting taxes.
Additionally, the federal funds rate is
A. Very important for the Fed's monetary policy because individual borrowers pay this interest rate for mortgage loans B. Very important for the Fed's monetary policy because the Fed uses the federal funds rate as a monetary policy target since it can control the rate through open market operations C. Very important for the Fed's monetary policy because it is Administratively set by the Fed