Consumers make all economic decisions in a mixed economy
Indicate whether the statement is true or false
FALSE
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According to the textbook, why didn't the U.S. government mount chronic budget deficits before 1970?
A) Elected officials didn't know how to use the federal budget as a policy tool. B) Deficits were viewed as an irresponsible moral failure on the part of government. C) The U.S. had a constitutional balanced budget amendment. D) For all of the above reasons. E) For none of the above reasons.
Which of the following would decrease the unemployment rate?
A) government aid to retrain unemployed workers B) an increase in the efficiency wage C) an increase in the minimum wage D) an increase in labor union membership
Increasing the amount of information available to investors helps to reduce the problems of ________ and ________ in the financial markets
A) adverse selection; moral hazard B) adverse selection; risk sharing C) moral hazard; transactions costs D) adverse selection; economies of scale
If the economy is characterized by diminishing or decreasing returns to scale, then a
A) doubling of inputs will lead to a constant output. B) doubling of inputs will lead to a constant output. C) doubling of inputs will lead to a two-fold increase in output. D) doubling of inputs will lead to a less than two-fold increase in output.