What are the arguments for and against federal government grants to states?
What will be an ideal response?
Supporters of large grants see state governments as more flexible and closer to the people. They also view the states as “laboratories of democracy,” where creative solutions to make government more efficient can be developed. Critics of grant programs argue that the history of state governments gives little reason to see them as efficient providers of public services. These people worry that minimum national standards in welfare and health care might be sacrificed as states husband their limited financial resources.
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A firm's demand curve for labor slopes downwards because
A) firms supply less labor as the wage rate rises. B) of rising marginal product. C) workers supply less labor services as the wage rate falls. D) of the law of diminishing marginal returns.
For any given quantity, the price on a demand curve represents the marginal buyer's willingness to pay
a. True b. False Indicate whether the statement is true or false
It can be argued that the minimum jobs proposal is preferable to a minimum wage law because:
a. it provides more job opportunities to women. b. it cannot be overturned by the federal government. c. it puts a floor on the wage as well as on the nature of the job. d. it applies to students and non-students.
Explain how a stock market crash has the potential to lead to a recession in an economy
What will be an ideal response?