The specialization of labor
a. leads to a reduction in unemployment
b. means that less equipment will be employed when labor and capital are substitutes in production
c. expands the output a society can produce
d. decreases the costs to the firm of coordinating activities
e. effectively separates labor from management
C
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During the Christmas shopping season, the demand for money increases significantly. To offset the increase in money demand, the Fed must ________ the money supply, which will put ________ pressure on nominal interest rates.
A. decrease; downward B. increase; upward C. decrease; upward D. increase; downward
Expansionary fiscal policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
When the government privatizes a common resource, it does all of the following except:
A. forces the owner to consider all the costs and benefits of their consumption choices. B. creates excludability. C. increases efficiency. D. increases undesirable side effects.
By looking at the graph showing the poverty rate from 1959 to 2016, you can see that poverty increased ______.
a. in the 1960s
b. in the 1970s
c. in early 1990s
d. between 2012 and 2016