An increase in oil prices will increase the equilibrium price level and decrease aggregate output, ceteris paribus.
Answer the following statement true (T) or false (F)
True
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A study by Price Fishback and Shawn Kantor of the University of Arizona shows that after the passage of workers' compensation laws, wages received by workers in the coal and lumber industries fell
Source: Price V. Fishback and Shawn Everett Kantor, "Did Workers Pay for the Passage of Workers' Compensation Laws?" Quarterly Journal of Economics, Vol. 100, No. 3, August 1995
Which of the following is a primary objective of monetary policy?
A) achieving a zero natural rate of unemployment B) targeting a zero rate of inflation C) achieving price stability D) all of the above E) none of the above
One argument why farmers in poor countries remain poor is:
A. risk taking is a deterrent to growth. B. poor farmers in many countries lack access to commodity futures markets. C. they are poor assessors of the risks they face. D. they know very little about farming techniques needed for the crop they are growing.
One result of the agriculture price supports cited in the text is that
A) sometimes surplus food is given away. B) food shortages result in most cases. C) small farms receive most of the benefits. D) none of the above.