"Any additional increases in government spending should be for defense," is ________ statement about ________ policy.
A. positive; monetary
B. normative; monetary
C. positive; fiscal
D. normative; fiscal
Answer: D
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The impact of an increase in the wage rate on labor demand is represented by ________, assuming all else equal
A) rightward shift in the demand curve for labor B) upward movement along the demand curve for labor C) leftward shift in the demand curve for labor D) downward movement along the demand curve for labor
The main reason that the deficit grows in a recession is that
a. the government reacts quickly and adjusts taxes to compensate. b. monetary policy that targets interest rates causes the costs of borrowing to fall. c. the deficit causes the recession, and reducing the deficit cures the recession. d. many forms of taxes act as automatic stabilizers.
Suppose that the percentage change in supply is 20%, the price elasticity of supply is 2, and the percentage change in the equilibrium price is 4%. What is the price elasticity of demand?
A. 0 B. 1 C. 2 D. 3
Which of the following is partially responsible for the male-female wage gap in the United States?
A. Women have, on average, less education than their male counterparts. B. Women have, on average, less work experience than their male counterparts. C. Women have been denied access to many occupations, leading to increased supply in a few occupations. D. All of these are correct.