The empirical evidence finds that large downward movements in wages are ________.
A. extremely rare
B. common in some industries but not others
C. very common
D. common only in Europe
Answer: A
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When a market is efficient:
A. there is no exchange that can make anyone better off without someone becoming worse off. B. a central planner must be involved. C. total surplus is zero. D. an increase in price will reduce the deadweight loss.
The difference between slope and elasticity is that slope measures absolute change and elasticity measures percentage change
a. True b. False Indicate whether the statement is true or false
In the Full Employment and Balanced Growth Act of 1978,
A. An unemployment goal of 4 percent was set, but no inflation goal could be set. B. The president set an inflation goal of 0 percent. C. Alan Greenspan set an inflation goal of 0 percent. D. Congress set an inflation goal of no more than 3 percent.
What are two main economic objections to the PPACA?
What will be an ideal response?