The U.S. economy has seen a faster increase in productivity since the mid-1990s as compared to the economies of many Western European countries. Which of the following explains this?
A) The United States has a higher rate of job mobility than do many Western European countries.
B) U.S. unions impose stricter work rules as compared to unions in Western European countries.
C) U.S. government regulations impose stricter work rules as compared to government regulations in Western Europe.
D) U.S. workers can obtain unemployment insurance for a longer period of time as compared to workers in most Western European countries.
A
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Why did the monetary base increase rapidly during the economic crisis of 2008?
a. The Fed sold financial assets and extended fewer loans. b. The Fed increased both its purchase of assets and quantity of loans extended. c. The Fed increased its purchases of assets, but offset this with an increase in the reserve requirement. d. The Fed sold financial assets, but offset this with a reduction in the reserve requirement.
A basic purpose of macroeconomics is to explain:
A. Why businesses pollute. B. How businesses choose the profit-maximizing rate of output. C. Why the economy expands or contracts. D. How and why countries trade with each other.