One argument for cyclical unemployment is
a. high labor force participation.
b. a downturn in the economy.
c. sticky downward wages.
d. an upturn in the economy.
c. sticky downward wages.
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As the U.S. dollar’s foreign-exchange value falls, we should expect to see
A. more Americans travelling abroad. B. American import levels rising. C. more foreigners visiting the United States. D. increased foreign investment by American firms.
Refer to Table 16-1. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president want to keep real GDP at its potential level in 2017, they should A) decrease government purchases. B) decrease income taxes. C) increase the level of interest rates. D) decrease the money supply.