Unemployment payments
a. rise during a recession and thus reduce the severity of the recession
b. rise during a recession and thus increase the severity of the recession
c. rise during inflationary episodes and thus reduce the severity of the inflation
d. fall during inflationary episodes and thus increase the severity of the inflation
e. fall during a recession and thus increase the severity of the recession
A
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Given the uncertainty about the effects of macro policy, economists generally propose that
A) macro policies should be more active, the lower the level of unemployment or inflation. B) changes in money growth should only be used for fine tuning the economy, not for correcting large imbalances (such as high inflation). C) money growth should be set at zero by constitutional amendment. D) elected officials should have more input in the determination of monetary policy. E) none of the above
Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non-digital) cameras?
A) The demand curve for traditional cameras shifts to the right. B) The supply curve for traditional cameras shifts to the right. C) The demand curve for traditional cameras shifts to the left. D) The supply curve for traditional cameras shifts to the left.