(Consider This) If wages were more downwardly flexible, then we would expect:
A. fewer layoffs during recessions.
B. more layoffs during recessions.
C. more severe recessions.
D. no business cycle fluctuations.
A. fewer layoffs during recessions.
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When the economy is producing its potential output, an increase in government spending must necessarily reduce some component of private spending. This phenomenon is called
A) the multiplier effect. B) entitlement spending. C) fiscal policy. D) crowding out.
If getting people off welfare could be described as a carrot-and-stick approach, it would be fair to say that
A. liberals and conservatives both favor the stick. B. liberals and conservatives both favor the carrot. C. liberals favor the carrot and conservatives favor the stick. D. liberals favor the stick and conservatives favor the carrot.
"Equality of opportunities is more important than equality of incomes.". This statement would be most likely attributed to which political philosophy?
a. utilitarianism b. liberalism c. libertarianism d. welfarism
A primary financial market is:
A. a market where U.S. Treasury bonds are traded. B. one that can only deal in the highest investment grade securities. C. one where the borrower obtains funds directly from the lender for newly issued securities. D. located only in New York, London, and Tokyo but can handle transactions anywhere in the world.