1 The Federal Reserve raised the federal funds interest rate in 1980 and 1981 with the main objective

Question

1.The Federal Reserve raised the federal funds interest rate in 1980 and 1981 with the main objective

of

a.lowering unemployment

b.lowering inflation

c.raising output growth

d.lowering the trade deficit

The 1980-82 double dip recession was relatively deep, but recovery was swift in large part because?

A.under Paul Volcker’s leadership, markets believed that monetary policy would effectively combat inflation

b.aggregate demand quickly shifted left

c.Paul Volcker mandated that markets adjust prices quickly

d.the was a considerable amount of good luck in the recovery

3.In 1980, inflation as measured with the PCE, reached just over

a.5%

b.8%

c.11%

d.19%

4.At its peak in 1981, the federal funds interest rate was just over

a.5%

b.8%

c.11%

d.19%

5.The increase in investment during the 1990s information technology boom generated a decline in inflation because?

A.aggregate demand declined

b.the capital stock rose and decreased short-run and long-run aggregate supply

c.the capital stock rose and increased short-run and long-run aggregate supply

d.energy prices increased during this period

6.Choose the item below that is not a routine task

a.Book keeping

b.Dispensing cash from bank accounts

c.Gardening

d.Car assembly

7.

  1. Computerization/automation have led to job growth
  2. jobs whose tasks are largely non-routine
  3. jobs whose tasks are largely routine manual
  4. jobs whose tasks are largely routine cognitive
  5. all of above

QUESTION 8

  1. Jobs requiring routine tasks are largely concentrated
  2. in the low end of the wage distribution
  3. in the middle of the wage distribution
  4. in the high end of the wage distribution
  5. throughout the wage distribution

QUESTION 9

Economics