Buchanan and Wagner assert that there is a political bias toward contractionary fiscal policy and not expansionary fiscal policy
Indicate whether the statement is true or false
False
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Imposing a minimum wage that is above the equilibrium wage rate results in
A) higher job search costs. B) lower unemployment. C) the labor market becoming more efficient. D) equilibrium in the labor market.
The task of economic regulation is to:
a. protect monopoly profits. b. approximate the results of the competitive market. c. replace competition with government ownership. d. ensure laissez faire. e. increase competition within the market.
If the level of prices and output are compatible with both buyers' and sellers' intentions, then the policy goals are satisfied.
Answer the following statement true (T) or false (F)
Mainstream macroeconomics would suggest that fiscal policy:
A. Affects GDP and the price level through changes in aggregate supply B. Changes aggregate demand and GDP through the multiplier process C. Has no effect unless the fiscal policy is accompanied by changes in the money supply D. Is relatively ineffective because the outcomes are anticipated and offset