In contrast to the United States, countries like Japan and Germany have
A. higher rates of saving and investment.
B. higher rates of saving but lower rates of investment.
C. lower rates of saving but higher rates of investment.
D. lower rates of saving and investment.
Answer: A
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All else constant, the quantity of labor supplied is inversely related to the amount of training required for a job
a. True b. False
According to the Phillips curve, policymakers would reduce inflation but raise unemployment if they
a. decreased the money supply. b. increased government expenditures. c. decreased taxes. d. None of the above is correct.
Figure 5-16
In Figure 5-16, a decrease in the price of apples will
a.
shift Adam's budget constraint out.
b.
make Adam's budget constraint steeper.
c.
shift Adam's indifference curves out.
d.
make Adam's budget constraint flatter.
Assume that the full-employment level of output is $500, and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $450 and at the price level of 100 current aggregate demand is $410. If the government wants to move the economy back to the full-employment level of output and the MPC is 0.75, then it should
A. reduce taxes by $30. B. increase taxes by $30. C. reduce taxes by $90. D. increase taxes by $90.