The Employment Act of 1946 codified the federal government's commitment to
A) promote high employment consistent with price stability.
B) promote high employment irrespective of the effects on price stability.
C) guarantee a job to every unemployed person.
D) fine companies that engage in excessive layoffs during recessions.
A
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Which of the following transfer payments is included in GDP?
A) Social Security payments B) welfare payments C) veteran's benefits D) none of the above
When banks gain ________, they can ________ their loans; and the money supply ________
A) withdrawals; increase; expands B) reserves; increase; expands C) withdrawals; decrease; expands D) reserves; increase; contracts
A firm that faces a high-demand period followed by a low-demand period must determine all of the following for peak-load pricing except which one?
A) short-term off-peak quantity B) long-term off-peak price C) short-term peak quantity D) short-term peak price
If the marginal utility of each good consumers buy does not diminish but remains constant, we should witness consumers:
A. buying no goods at all. B. spending all of their income on the good with the highest MU. C. buying one of each good. D. buying only the least expensive goods.