If there is cyclical unemployment in the economy the government might:
a) Increase interest rates
b) Encourage savings
c) Cut income tax
d) Reduce government spending
Answer: c) Cut income tax
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Suppose France's real GDP grew from $750 billion in 2010 to $821 billion in 2011. What was the growth rate of France's real GDP?
A) 10 percent B) 9.5 percent C) 9.1 percent D) 8.6 percent E) $71 billion
One danger associated with calls for fairness based on reciprocity is that, calls for fair trade may be invoked in cases where, foreign restrictions on U.S. imports do not actually exist
a. True b. False Indicate whether the statement is true or false
Suppose that in a month the price of a dozen of eggs increases from $1.50 to $2. At the same time, the quantity of dozens of eggs demanded decreases from 200 to 150. The price elasticity of demand for dozens of eggs is:
A. perfectly inelastic. B. inelastic. C. unit elastic. D. elastic.
A worker is hired in a
A) goods and services market. B) product market. C) government market. D) factor market.