Which of the following is true?
a. The Great Depression re-enforces the view that raising taxes in the midst of a severe recession is a bad idea.
b. The Great Depression clearly indicates that a prolonged period of monetary contraction will keep inflation low and promote monetary stability.
c. The Great Depression illustrates that trade restrictions will protect domestic industry and save jobs.
d. The Great Depression demonstrates that the political incentive structure during a severe downturn will encourage politicians to avoid frequent policy changes.
A
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What are two ways that raising taxes on the rich can harm society?
What will be an ideal response?
Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico in 2005. This drove up the prices of natural gas, gasoline, and heating oil. This is an example of a
A) supply shock. B) demand shock. C) negative externality. D) depression.
An electrician quits her current job, which pays $40,000 per year. She can take a job with another firm for $45,000 per year or work for herself. The opportunity cost of working for herself is
A) $5,000. B) $40,000. C) $45,000. D) $85,000.
Using the above table, the marginal utility for the sixth glass of water is
A. -5 utils. B. 5 utils. C. 260 utils. D. 255 utils.