During the Vietnam War, Congress increased government expenditures while raising taxes. As a result we know that:
A. What happened to the AD curve is unclear.
B. the AD curve remained unchanged.
C. the AD curve shifted to the left.
D. the AD curve shifted to the right.
Answer: A
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A union can achieve higher wages without accepting lower levels of employment of members by
A) striking. B) increasing the productivity of its members. C) increasing the amounts of imports. D) increasing the difficulty of its apprenticeship program.
Which of the following examples would cause the equilibrium quantity to decrease?
a. The demand for picture frames increased as the supply of this product also increased. b. The supply of pens increased as the demand for this product decreased at the same rate. c. Although the demand for CDs decreased, the supply of this product increased more. d. Although the supply of bow ties increased, the demand for this product decreased more.
The conventional monetary policy to fight inflation would be to
A. increase the rate of monetary growth. B. decrease the rate of monetary growth. C. run budget deficits. D. run budget surpluses.
Which of the following racial/ethnic populations make up the greatest numbers of those in poverty?
A. Whites (non-Hispanic) B. Hispanics C. Asians D. Blacks (non-Hispanic)