If prices (as measured by the CPI) fell by one-half and nominal wages fell by one-third, what would happen to real wages?
a. They would fall by one-third
b. They would remain unchanged
c. They would decrease
d. They would increase
e. They would fall by one-half
D
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A graph has a point that is either a maximum or a minimum. To the left of the point, the slope of relationship is positive. To the right of the point, the slope is negative
Is the point a maximum point or a minimum point? Be sure to draw a figure that supports your answer.
All of the following methods were used to raise funds to finance the Civil War (1861–1865) except
(a) An income tax (b) The printing of paper money (c) Taxes on prostitution (d) Taxes on whiskey and beer
According to most economists,
A. command-and-control regulations work better than incentive-based regulations. B. incentive-based regulations work better than command-and-control regulations. C. command-and-control regulations have about the same effectiveness as incentive-based regulations.
The framers of the Constitution sought to limit the economic role of the government as evidenced by
A) all of the above. B) the enumeration of the permissible powers of the federal government in Article I, Section 8. C) the 5th Amendment's limitation on the government's power to take private property. D) the 10th Amendment's allocation of all non-enumerated powers to the states and the people.