What is it called when the government uses some tool other than money to allocate goods?
What will be an ideal response?
Answer: rationing
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If a government wants to pursue an expansionary fiscal policy, then a tax cut of a certain size will be more expansionary when the
A. unemployment rate is low. B. economy's MPS is large. C. economy's MPC is large. D. economy's MPC is small.
There are ________ voting members on the FOMC
A) 4 B) 7 C) 12 D) 15
A repeated cross-sectional data set is
A) a collection of cross-sectional data sets, where each cross-sectional data set corresponds to a different time period. B) the same as a balanced panel data set. C) what Card and Krueger used in their study of the effect of minimum wages on teenage employment. D) time series.
The law of comparative advantage explains why a nation will benefit from trade when
a. it exports more than it imports.
b. its trading partners are experiencing offsetting losses.
c. it exports goods for which it is a high-opportunity cost producer, while importing those for which it is a low-opportunity cost producer.
d. it exports goods for which it is a low-opportunity cost producer, while importing those for which it is a high-opportunity cost producer.