At each level of income, net taxes reduce disposable income, thereby reducing consumption spending
a. True
b. False
A
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Refer to Table 4-7. If a minimum wage of $12.50 is mandated there will be a
A) shortage of 40,000 units of labor. B) surplus of 80,000 units of labor. C) shortage of 80,000 units of labor. D) surplus of 40,000 units of labor.
The legislation that made all depository institutions regardless of Federal Reserve membership subject to the reserve requirements established by the Fed is called the:
A) Glass-Steagall Act. B) McFadden Act. C) Monetary Control Act of 1980. D) none of the above
In the labor negotiation game:
a. Neither party prefers bargaining hard b. Neither party prefers accommodating the other c. Both parties bargain hard in the Nash equilibrium d. Neither party knows what the equilibrium will be.
Tariffs raise the price of imported goods, but quotas rarely do
Indicate whether the statement is true or false