A political leader suggesting that the country "stay the course" in the face of an economic downturn because things will be potentially made worse if tax and spending policies are adopted, is, by implication, suggesting ________ is better.
A. Discretionary Fiscal Policy
B. Trade policy
C. Regulatory changes
D. Nondiscretionary Fiscal Policy
Answer: D
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In surveying their alumni, State U's economics department discovered that ramen noodle consumption declined once students graduated and found jobs. One conclusion the survey team might draw from this result is that:
A. ramen noodles are an inferior good. B. there is excess demand for ramen noodles. C. college graduates have a high reservation price for ramen noodles. D. the equilibrium price for ramen noodles is too high.
Direct transfer programs are generally less efficient and less politically acceptable than subsidy programs
a. True b. False
Recall the Application about food and drink pricing during "happy hour" at bars and restaurants to answer the following question(s).Recall the Application. During "happy hour," many bars and restaurants face an increase in demand for food and drink, and these establishments often cut prices during these times of increased demand. When this demand increases, the demand curve facing these bars and restaurants becomes:
A. vertical. B. horizontal. C. steeper. D. flatter.
In recent years, the increasing relative wage of skilled labor has been mostly due to
A) a decrease in the supply of skilled labor that exceeds the decrease in demand. B) an increase in the demand for skilled labor that exceeds the increase in supply. C) a decrease in the supply of, and increase in the demand for, skilled labor. D) government laws promoting the hiring of skilled labor. E) government subsidies provided to college students.