Prior to World War I, the U.S. government's attitude towards labor unions was one of
A) indifference.
B) support.
C) hostility.
D) support, except when it came to unions of public employees.
C
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Ball found that an important factor affecting the sacrifice ratio is
A) the flexibility of the labor market. B) the shape of the yield curve. C) the real interest rate. D) the tightness of fiscal policy.
Monetarists reject using discretionary monetary policy as an effective stabilization tool because they believe:
A. if the money supply grows at a rate equal to the economy's long-run rate of economic growth, then the economy will be unstable. B. that changes in the money stock do not affect output or prices. C. the Fed will miss its money supply targets and make the economy worse. D. monetary policy can stimulate aggregate demand, but it cannot affect inflation.
Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X. If the initial demand and supply curves are D0 and S0, equilibrium price and quantity will be:
A. 0E and 0B respectively. B. 0F and 0A respectively. C. 0F and 0C respectively. D. 0G and 0B respectively.
If you owned a small farm, which of the following would be a fixed cost?
A. Harvest labor B. Seed C. Hail insurance D. Fertilizer