Discrimination occurs when someone is denied employment on the basis of some non-economic factor such as race, religion, or gender
a. True
b. False
Indicate whether the statement is true or false
True
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What is the law of demand?
What will be an ideal response?
Define what dead capital is and why economists are concerned with its existence
What will be an ideal response?
The crowding-out effect indicates that budget deficits
a. will stimulate aggregate demand and, therefore, exert a strong impact on output and employment. b. will lead to additional borrowing and higher interest rates that will reduce the level of private spending. c. are highly appropriate when the threat of inflation is present. d. are highly appropriate when the threat of recession is present.
Which of these statements best represents the law of supply?
a. When input prices increase, sellers produce less of the good. b. When production technology improves, sellers produce less of the good. c. When the price of a good decreases, sellers produce less of the good. d. When sellers' supplies of a good increase, the price of the good increases.