In addition to advising the president, one duty of the Council of Economic Advisers is to
a. prepare the federal budget.
b. write government regulations.
c. advise Congress on economic matters.
d. write the annual Economic Report of the President.
d
You might also like to view...
Many economists are critical of proposals to pass comparable worth legislation. Which of the following is the best explanation for this criticism?
A) Proposals for comparable worth legislation assume that wages for low-paying women's jobs should include compensating differentials. Economists believe that compensating differentials should be part of the wages for all jobs held by women. B) Proposals for comparable worth legislation call for increases in the wages of jobs held predominantly by women. Economists believe that this legislation should be used to increase the wages of all workers. C) Many economists believe that allowing markets to determine wages, rather than the rules required by comparable worth legislation, results in more efficient outcomes. D) Comparable worth legislation will only lead to efficient market outcomes if women in low-paying jobs suffer from cognitive dissonance.
The money value of all trading activity (Q) at market prices (P) is called Gross Domestic Product for a given year
Indicate whether the statement is true or false
A firm's average fixed cost when producing 2,000 units of output equals $10 . When only 1,000 units of output are produced: a. AFC must still equal $10
b. AFC must equal $20. c. AFC must equal $5. d. marginal cost must equal $20.
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.