Economists Novy-Marx and Rauh contend that if Chicago wanted to adequately fund its pension systems for its public workers, it would have to put on
A. a one-time tax of nearly $42,000 per household.
B. an annual tax of only $42 per household.
C. an annual tax of nearly $42,000 per household.
D. a one-time tax of nearly $420,000 per household.
Answer: A
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Which of the following can be a barrier to entry, closing a market to new firms?
A) an elastic industry demand curve B) control of a vital resource by one producer C) diseconomies of scale D) ease of obtaining capital financing
As the price level decreases real GDP demanded increases because
A. consumer wealth increases. B. net exports decrease. C. interest rates decrease and cause lower investment. D. net exports are indeterminant .
Compared to the poverty rate for blacks, the poverty rate for whites is a fraction of less than ______.
Fill in the blank(s) with the appropriate word(s).
Those who favor active policymaking argue that all of the following exist EXCEPT
A. perfectly flexible wages and prices. B. aggregate demand shocks can influence real Gross Domestic Product (GDP) and unemployment. C. inflation and unemployment are stable in the short run and predictable in the long run. D. pure competition is not typical.