In the early 1900s, Henry Ford introduced a
a. high-wage policy, and this policy produced many of the effects predicted by efficiency-wage theory.
b. high-wage policy, and this policy produced none of the effects predicted by efficiency-wage theory.
c. low-wage policy, and this policy produced many of the effects predicted by efficiency-wage theory.
d. low-wage policy, and this policy produced none of the effects predicted by efficiency-wage theory.
a
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The Great Depression began in
A. the second half of 1929. B. the middle of 1930. C. early 1932. D. March 1933.
The consumption function shows how much
A) households plan to consume per year at each possible interest rate. B) real disposable income people will earn at each income tax bracket. C) households plan to consume per year at each level of real disposable income. D) households plan to consume per year at each level of savings.
In the neoclassical growth model, if two countries are exactly the same but one has a lower permanent budget deficit, we would expect that country to have
a. higher output, a higher capital-to-labor ratio, and higher output growth in the steady state. b. the same output and capital-to-labor ratio, but higher output growth in the steady state. c. higher output, the same capital-to-labor ratio, and the same output growth in the steady state. d. higher output, a higher capital-to-labor ratio, and the same output growth in the steady state.
In the long run, the beneficiaries of farm price supports are
a. tenant farmers b. consumers c. taxpayers d. milk drinkers e. early owners of specialized resources