A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. Which of the following is not one of those propositions?
a. A ceiling on rents reduces the quantity and quality of housing available.
b. Fiscal policy has a significant stimulative impact on a less than fully employed economy.
c. The gap between Social Security funds and expenditures will become unsustainably large within the next fifty years if current policies remain unchanged.
d. The United States should implement universal health care for its citizens.
d
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When mismatch unemployment characterizes an economy
A) monetary and fiscal policies to raise AD are the appropriate government action. B) only monetary policy will be effective. C) monetary and fiscal policies to raise AD are not the appropriate government action. D) only general (not specific) fiscal policy will be effective.
In 2012, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for
a. less than 20 percent of federal spending. b. about 40 percent of federal spending. c. approximately 50 percent of federal spending. d. more than 85 percent of federal spending.
Game theory proves most useful for analyzing
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
If the wage rate doesn't change but a profit-maximizing competitive firm hires fewer workers, we know that
A. demand for the product fell or there has been a reduction in labor productivity. B. marginal factor cost increased. C. the price of the product increased. D. technical change occurred that increased labor productivity, reducing the firm's demand for labor.