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Need an expert in macroeconomics to answer these 10 questions 31. The labor force participation rate indicates The willingness of workers to accept low paying

Need an expert in macroeconomics to answer these 10 questions

31. The labor force participation rate indicates

  1. The willingness of workers to accept low paying jobs
  2. The level of unemployment
  3. The willingness of working-age people to take jobs
  4. The willingness of 15 year old workers to take any job available

32. If the government increases unemployment benefits, then labor

  1. Supply curve shifts rightward
  2. Supply curve shifts leftward
  3. Supply curve shifts rightward
  4. Demand curve shifts rightward

33. The boards of directors of the Federal Reserve (FOMC) is

  1. A seven-member board, each one serving a 14-year term
  2. The collection of the 12 presidents of the Federal Reserve Bank
  3. A 14-member board, each one serving a seven-year term
  4. A seven-member board, each serving a one-year term

34. Every summer Sarah works as a lifeguard at the YMCA. One summer ends, she returns to college as a full-time student. After summer ends, Sarah is

  1. Frictionally unemployed
  2. Not in the labor force
  3. Seasonally unemployed
  4. Structurally unemployed

35. The annual budget is decided upon by the

  1. President of the United States and United State Congress
  2. President of the United States and United States Treasury
  3. United States Congress and the Federal Reserve System
  4. The United State Treasury alone

36. The quantity of money decreases if

  1. The Treasury department issues fewer government securities
  2. The Fed buys US government securities
  3. The currency drain increases
  4. The required reserve ratio decreases

37. To help unscramble cause and effect, economists

  1. Must use positive and normative statements
  2. Must use the ceteris paribus assumption
  3. Use the concept of opportunity cost
  4. Answer the "what, how and for whom" questions

38. For a household, the opportunity cost of not working is

  1. Nominal wage rate
  2. Real wage rate
  3. Cost of living
  4. Price level

39. If income increases and the demand for train rides decreases,

  1. Consumer are behaving irrationally
  2. Train rides are normal good
  3. Train rides are substitutes
  4. Train rides are inferior good

40. Consider the market for turkeys. In the US, because of Thanksgiving in the month of November,

  1. The supply curve of turkeys shift leftward
  2. There is an upward movement along the supply curve for turkeys
  3. The demand curve for turkeys shifts leftward
  4. There is a downward movement along the demand curve for turkeys

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