Individual employment and training programs are levers most likely to be advocated by:
A. Classical economists.
B. New classical economists.
C. Keynesians.
D. Supply-side economists.
D. Supply-side economists.
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Both classicals and Keynesians agree that policymakers
A) can exploit the Phillips curve in the short run. B) cannot exploit the Phillips curve in the short run. C) can keep the unemployment rate permanently below the natural rate by permanently running a high rate of inflation. D) cannot keep the unemployment rate permanently below the natural rate by permanently running a high rate of inflation.
Withholding of the federal income tax _____
a. was first used during the civil war b. was first used during World War I c. was first used during World War II d. was first used after World War II
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206Suppose Smith and Jones begin by producing 0 computers and 220 calculators per hour. If they wish to produce 2 computers and 200 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A. 12 minutes making computers and 48 minutes making calculators; 1 hour making calculators B. 48 minutes making computers and 12 minutes making calculators; 1 hour making calculators C. 1 hour making calculators; 10 minutes making computers and 50 minutes making calculators D. 30 minutes making each; 30 minutes making each
According to the short-run Phillips Curve, there is a trade-off between
(a) interest rates and inflation (b) the growth of the money supply and interest rates (c) unemployment and economic growth (d) inflation and unemployment (e) economic growth and interest rates