According to economist Paul Romer, economies that wish to experience growth must
A) invest most of their savings in national defense.
B) invest in knowledge.
C) drastically lower their standards of living.
D) become command economies.
B
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The federal funds rate is
A. The required reserve ratio that the federal reserve requires banks to maintain B. The interest rate that banks charge for loans to its important commercial borrowers C. The interest rate that banks charge each other for overnight loans
Evidence shows that for many people, delaying searching for a job for a year or longer after they are laid off will contribute to a deterioration of their job skills, making it harder for them to find employment
This deterioration in job skills and the subsequent retraining that is necessary to obtain employment relates to which type of unemployment? A) seasonal B) structural C) cyclical D) frictional