A political problem with discretionary fiscal policy is the
A. business cycle.
B. split control of the legislative and judicial branches of government.
C. Federal Reserve.
D. political business cycle.
Answer: D
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The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $5 per hour is imposed. Unemployment will equal
A) 0 hours. B) 10 million hours per year. C) 20 million hours per year. D) 30 million hours per year.
What does a household's budget line show?
What will be an ideal response?
Unlike the 1920–21 episode, 1929–30 farm prices stood up fairly well when other prices fell
Indicate whether the statement is true or false
The market mechanism satisfies all consumer desires and maximizes business profits.
Answer the following statement true (T) or false (F)