That the migration of black middle and working class families from the ghettos removed the key social constraint against crime is a central thesis of
A. William Julius Wilson.
B. Charles Murray.
C. Mickey Kaus.
D. Frances Fox Piven.
A. William Julius Wilson.
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Which of the following policies supports the concept of continual adjustment of the money supply to achieve macroeconomic goals?
A. Restrictive policy. B. Fixed rules. C. Discretionary policy D. Fiscal policy.
While the short-run Phillips curve is upward-sloping, the long-run Phillips curve is downward-sloping
Indicate whether the statement is true or false
Oil producers expect that oil prices next year will be higher than oil prices this year. As a result, oil producers are most likely to
A) place more oil on the market this year, thus shifting the present supply curve of oil rightward. B) hold some oil off the market this year, thus shifting the present supply curve of oil leftward. C) place more oil on the market this year, thus increasing the quantity supplied of oil at lower but not higher prices. D) hold some oil off the market this year, thus decreasing the quantity supplied of oil at lower but not higher prices.
Answer the following statement(s) true (T) or false (F)
1. The law of demand and the law of diminishing marginal utility are related. 2. Most economists find it acceptable to make utility comparisons between different people. 3. The income effect occurs when people value their personal property above the property of others. 4. The law of diminishing marginal utility explains why price and quantity demanded have a negative relationship. 5. Economists measure utility in utils.