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Author Question: Unemployment that results from an economy-wide downturn is called: a. frictional unemployment. b. ... (Read 240 times)

bobbie

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on: Jun 30, 2018
Unemployment that results from an economy-wide downturn is called:
 a. frictional unemployment.
  b. cyclical unemployment.
 c. structural unemployment.
  d. seasonal unemployment.

Question 2

Under a system of fixed exchange rates, what will happen if the price of a currency is set above market equilibrium? How can this be remedied?


parker125

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

A nation whose currency is overvalued will consistently import more than it exports, leading to a loss of currency reserves. To prevent this, the country can devalue its currency, adopt tariffs and quotas, or follow restrictive macroeconomic policy to promote deflation and higher interest rates.


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