When changes to taxes and spending occur in the economy without explicit action by the federal government, such policy is:
A. variable.
B. discretionary.
C. nondiscretionary.
D. cyclical.
Answer: C
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The majority of American workers are employed in the manufacturing sector.
Answer the following statement true (T) or false (F)
If the demand for one good decreases when the price of another good increases, the two goods are ________ goods
A) normal B) inferior C) complementary D) substitute
What are the reasons some people choose to be part-time workers?
What will be an ideal response?
A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in the supply of eggs as a result of an outbreak of Avian flu, will result in
A) a decrease in the equilibrium price of eggs and no change in the equilibrium quantity. B) a decrease in the equilibrium price of eggs; the equilibrium quantity may increase or decrease. C) a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease. D) a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.