Monetary policy refers to the actions the
A) Federal Reserve takes to manage the money supply and interest rates to pursue its macroeconomic policy objectives.
B) Federal Reserve takes to manage government spending and taxes to pursue its economic objectives.
C) President and Congress take to manage government spending and taxes to pursue their economic objectives.
D) President and Congress take to manage the money supply and interest rates to pursue their economic objectives.
A
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Assume that a union representative argues that the social security tax is essentially paid for completely by the worker in the form of a lower wage equal to the amount of the tax
If this person were correct what is implicitly assumed to be the shape of the labor supply curve and why? Is this a reasonable assumption? Why or why not?
Assume that Greece has a comparative advantage in fish and Germany has a comparative advantage in cars. Also assume that Germany has an absolute advantage in both fish and cars. If these two countries specialize and trade so as to maximize the benefits of specialization and trade, then
a. the two countries' combined output of both goods will be higher than it would be in the absence of trade. b. Greece will produce more fish than it would produce in the absence of trade. c. Germany will produce more cars than it would produce in the absence of trade. d. All of the above are correct.
Which of the following is an example of a scarce good?
What will be an ideal response?
Intermediate goods are produced by one firm for use in further processing by another firm.
Answer the following statement true (T) or false (F)