Price ceilings in the U.S. on retail gasoline sales in the 1970s caused
A) massive and prolonged shortages.
B) increased advertising of gasoline.
C) longer hours of operation at most service stations.
D) poor people to be assured of an adequate supply of gasoline.
A
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A weakness that could be noted about the unemployment rate is that it
A) does not account for the underutilization of workers. B) considers marginally attached workers as unemployed. C) overestimates the number of part-time workers. D) does not count part-time workers. E) counts discouraged workers as employed.
Suppose the inflation rate has been 6 percent over the past four years. If the Federal Reserve announces an increase in the growth of the money supply, adaptive expectations would predict an inflation rate of 6 percent
a. True b. False Indicate whether the statement is true or false