A non-policy reason for the reduction in the natural rate of unemployment is the
a. expansionary nature of monetary policy.
b. aging of the U.S. labor force.
c. decline in interest rates.
d. growing federal budget surplus.
b
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Which of the following isnot a reason why the aggregate-demand curve slopes downward?
A. the interest-rate effect B. All of these answers are reasons why the aggregate-demand curve slopes downward. C. the wealth effect D. the exchange-rate effect E. the classical dichotomy/monetary neutrality effects
To abstract from reality in an economic model means that:
a. we include only a few of the essential aspects of reality. b. the economic study surveys only a very limited period of time. c. we include only those elements which support our hypothesis. d. the model includes every aspect of the real world. e. the model examines the actions of the consumers in the absence of producers and the government.