Question

1.The U6 measure of unemployment is approximately 1/2 the U3 official rate.

True

False

2.Market failure is the focus of the Keynesian School.

True

False

3.The monetary base is composed of currency in circulation and bank reserves, and is known as "high powered money."

True

False

4.In the Great Depression, U.S. industrial production fell by approximately:

		46.8%.
		10.2%.
		90%.
		23.3%.

5.The Great Recession in the Idaho (2007-2009) was not as severe as the 1980-1982 recessions.

True

False

6.From the end of the U.S. Civil War up to the Great Depression, the political party that dominated national elections was :

		Federalist
		Socialist.
		Democrat.
		Republican