Other questions in this quiz

2. Cyclical unemployment is:

  • the additional unemployment not captured in official statistics resulting from discouraged workers and the involuntary part-time workers.
  • long-term and chronic unemployment that exists even when the economy is producing at a normal rate.
  • the extra unemployment that occurs during periods of recession
  • short-term unemployment that is associated with the process of matching workers with jobs.
  • the unemployment that results when people retire or leave the labour force

3. A situation of negative inflation is called:

  • boom.
  • recession.
  • deflation.
  • expansion.
  • disinflation.

4. In the equation Md = kY - hi, where Md is money demand, the parameter k captures _____

  • the money supply
  • the effects of inflation
  • the speculative demand for money
  • the transactions demand for money
  • the total demand for money

5. If a certain automotive part can be purchased in Poland for 32 zloty or in Germany for €5.25 and if the nominal exchange rate is 8 zloty per euro, then the automotive part:

  • costs more in Poland
  • is more expensive in Poland.
  • costs the same in Poland and Germany
  • is more expensive in Germany
  • is less expensive in Germany


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