In contrast to the typical Republican Party laissez-faire policies, President Richard Nixon in 1971 introduced
a. mandatory drug testing of cabinet officers.
b. monetary targets for the Federal Reserve Board.
c. wage and price controls.
d. mandatory gold purchases by the U.S. Treasury.
c
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Automatic stabilizers have the effect of
A) increasing aggregate demand during a recessionary ga
Monopolistic competition is a market structure in which
A) a small number of firms compete. B) firms produce identical products. C) firms compete only on product price. D) firms are free to enter and exit the market.
The current price per share of the XYZ company, which is traded on the New York Stock Exchange, is $100. At that price, the total quantity of shares demanded is 1,000 and the total quantity supplied for trade is 1,500. It follows that
a. $100 is the equilibrium price per share. b. there will be downward pressure on the price of shares of the XYZ company. c. there will be upward pressure on the price of shares of the XYZ company. d. there is a shortage of shares of the XYZ company on the stock exchange.
A minimum wage above the equilibrium wage leads to an excess quantity supplied of labor.
Answer the following statement true (T) or false (F)