(Solved): 5 questions 6. Meredith is looking for work as a computer programmer. Although her prospects are goo ...

6. Meredith is looking for work as a computer programmer. Although her prospects are good, she hasn't yet taken a job. Julie is looking for work in a steel mill, but there aren't many job ads for steel workers and every time she shows up for an interview, there are many more people than openings. Which of the following best describes the nature of their unemployment? a. Meredith and Julie are both frictionally unemployed. b. Meredith and Julie are both structurally unemployed. c. Meredith is frictionally unemployed, and Julie is structurally unemployed. d. Meredith is structurally unemployed, and Julie is frictionally unemployed. 7. What is the effect of anything that makes the efficiency wage rise relative to the market-clearing Wage? a. It increases both the quantity demanded and the quantity supplied of labour. b. It decreases both the quantity demanded and the quantity supplied of labour. c. It increases the quantity demanded and decreases the quantity supplied of labour. d. It decreases the quantity demanded and increases the quantity supplied of labour. 8. Mia puts money into a piggy bank so she can spend it later. Which of the following functions of money does this illustrate? a. store of value b. medium of exchange c. unit of account d. wealth If the reserve ratio is 10 percent and a bank receives a new deposit of \( \$ 20 \), what happens to the bank's reserves in the longer term? a. Reserves increase by \( \$ 2 \). b. Reserves increase by \( \$ 18 \). c. Reserves increase by \( \$ 20 \). d. Reserves increase by \( \$ 200 \). If the reserve ratio is 100 percent, how much will the money supply eventually increase if there is a deposit of \( \$ 500 \) of paper money in a bank? a. \( \$ 5000 \) b. \( \$ 1000 \) c. \( \$ 500 \) 1. \( \$ 0 \)