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5 Written questions

5 Matching questions

  1. Underemployed Worker
  2. Federal Funds Rate
  3. GDP Gap
  4. The Invisible Hand
  5. Seasonal Unemployment
  1. a workers are overqualified for their jobs or work fewer hours than they would prefer
  2. b measures loss in output due to cyclical unemployment
  3. c The interest a bank pays another bank for an overnight loan
  4. d Unemployment caused by seasonal changes in the demand for certain kinds of labor
  5. e Adam Smith's term for the natural self-regulation of a market economy driven by self-interest and efficiency

5 Multiple choice questions

  1. Banks lend out most of the money that has been deposited
  2. The minimum percentage of deposits that a bank must keep as reserves
  3. Regulation of money supply to influence economy-wide activity
  4. the portion of a business's profits not distributed to stockholders
  5. The assumption that people act in a rational way and they want more at cheaper prices and less at higher. To act rationally is to act one way, to think rationally is to think logically. The assumption that humans make the best use of their resources

5 True/False questions

  1. Fiat MoneyItems designated by government decree to serve as money, although essentially worthless


  2. Dividendsan economic system based on private ownership of capital


  3. Discouraged Workerworkers are overqualified for their jobs or work fewer hours than they would prefer


  4. PartnershipA firm with multiple owners who share the firm's profits and bear unlimited liability for the firm's debts


  5. Budget Deficita shortfall of tax revenue from government spending