Those who favor smaller government tend to do what in order to make it more difficult for politicians to increase government spending? List at least two methods
What will be an ideal response?
cut taxes, reduce surpluses, increase deficits
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In contrast to the typical Republican Party laissez-faire policies, President Richard Nixon in 1971 introduced
a. mandatory drug testing of cabinet officers. b. monetary targets for the Federal Reserve Board. c. wage and price controls. d. mandatory gold purchases by the U.S. Treasury.
Unemployment insurance tends to lead to the unemployed worker spending less time unemployed
Indicate whether the statement is true or false
Which of the following lowers the current price of an nonrenewable natural resource?
A) an increase in the interest rate B) a decrease in the stock of the resource C) an increase in the marginal revenue product of the resource D) an increase in the price of a substitute resource
Raul Prebisch's objection to having developing countries treat trade as the "engine of growth" was that
a. agricultural goods were becoming cheaper while industrial products were becoming more expensive b. industrial products were being substituted for primary products c. workers in poor countries had little bargaining power, while unions in rich countries pushed wages up d. agricultural products were becoming a smaller portion of peoples' budgets as income rose e. all of the above