Econ Final Test Preactice

Econ Final Test Preactice

Assessment

Flashcard

Science

University

Practice Problem

Hard

Created by

Wayground Content

Used 1+ times

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the U-2 measure of labor underutilization?

Back

3.1%.

2.

FLASHCARD QUESTION

Front

What changes allow a bank to lend out an additional $10,000 if the reserve requirement is 10 percent?

Back

The Fed buys a $10,000 bond from the bank or the Fed lends the bank $10,000.

3.

FLASHCARD QUESTION

Front

If a bank has an 8 percent reserve requirement and $10,000 in deposits, how much does it have in reserves and loans?

Back

It has $800 in reserves and $9,200 in loans.

4.

FLASHCARD QUESTION

Front

What type of unemployment results from the time it takes for workers to find jobs that suit their skills?

Back

Frictional unemployment.

5.

FLASHCARD QUESTION

Front

If the economy starts at point Y, where does a recession occur?

Back

At point W.

6.

FLASHCARD QUESTION

Front

What is the definition of reserve requirement in banking?

Back

The percentage of deposits that banks must hold as reserves.

7.

FLASHCARD QUESTION

Front

What is the natural rate of unemployment?

Back

The level of unemployment that exists when the economy is at full employment.

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