What is one of the most important advantages of a free market?
What will be an ideal response?
Answer: It encourages growth.
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Which of the following is LEAST likely to be a monopoly?
A) the holder of a public franchise B) a pharmaceutical company with a patent on a drug C) a store in a large shopping mall D) an artist who owns a copyright for a painting
The "work effort argument" criticizing traditional economic analyses of the minimum wage implies
A. any increase in the nominal minimum wage reduces short-run aggregate supply. B. increased real GDP should result from any increase in the nominal minimum wage. C. increased real GDP should result from any reduction in the nominal minimum wage. D. reduced real GDP should result from any increase in the nominal minimum wage.
Which of the following groups over 19 years of age had the highest unemployment rate in the United States in 2015?
A. white women B. African American women C. white men D. African American men
Why is expansionary monetary policy ineffective in the liquidity trap?
What will be an ideal response?