The Employment Act of 1946 states that
a. the Fed should use monetary policy only to control the rate of inflation.
b. the government should promote full employment and production.
c. the government should periodically increase the minimum wage and unemployment insurance benefits.
d. All of the above are correct.
b
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Explain menu costs and shoe leather costs as they relate to inflation
What will be an ideal response?
A monetary policy that results in price stability will encourage the realization of gains from trade and thereby help promote economic growth.
a. true b. false
Tradable allowances are like quotas in that they both:
A. are efficient. B. reduce the quantity bought and sold to the efficient level. C. maximize surplus. D. All of these statements are true.
Why is the monopoly total welfare lower than the competitive total welfare?
What will be an ideal response?