His analysis started with the recognition that the total quantity demanded of an economy's output was the sum of four types of spending: consumer expenditure, planned investment spending, government spending, and net exports
A) John Maynard Keynes
B) Sir John Hicks
C) Milton Friedman
D) Paul A. Samuelson
A
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Many economists are critical of proposals to pass comparable worth legislation. Which of the following is the best explanation for this criticism?
A) Proposals for comparable worth legislation assume that wages for low-paying women's jobs should include compensating differentials. Economists believe that compensating differentials should be part of the wages for all jobs held by women. B) Proposals for comparable worth legislation call for increases in the wages of jobs held predominantly by women. Economists believe that this legislation should be used to increase the wages of all workers. C) Many economists believe that allowing markets to determine wages, rather than the rules required by comparable worth legislation, results in more efficient outcomes. D) Comparable worth legislation will only lead to efficient market outcomes if women in low-paying jobs suffer from cognitive dissonance.
If the nominal interest rate parity condition is not met,
A) imports will exceed exports. B) the return from holding domestic assets must exceed the expected return from holding foreign assets. C) the return from holding domestic assets must be less than the expected return from holding foreign assets. D) the return from holding domestic assets must be greater or less than the expected return from holding foreign assets.
Technological progress generally has the effect of
a. creating permanently higher levels of unemployment. b. freeing resources that can now go to other uses. c. lowering the national standard of living. d. doing all of the above.
If the existing unemployment rate is 3.1 percent and the natural unemployment rate is 4.5 percent, the cyclical unemployment rate is ________ percent.
a. 7.6 b. 3.8 c. -1.4 d. 1.4