Refer to Supply and Demand. Deadweight loss
The following questions refer to the accompanying graph, which shows the supply and demand for military service where Q0 represents the quantity provided by a volunteer army and Qd the quantity provided by a draft.
a. is eliminated by a limited draft.
b. occurs only with a volunteer army.
c. occurs only with a draft.
d. Occurs with both a volunteer army and with a draft.
c. occurs only with a draft.
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The belief that the government can do absolutely nothing in either the short run or the long run to reduce the unemployment rate, because people will anticipate the government's actions, is held by the:
a. rational expectations school. b. neo-Keynesian school. c. classical school. d. supply-side school. e. Keynesian school.
A free rider attempts to receive benefits without paying for them
Indicate whether the statement is true or false
6%-8% economic growth rate is 2% what is nominal rate
What will be an ideal response?
What is one way the Federal Reserve Bank serves the government?
What will be an ideal response?