Which groups tend to have greater difficulties finding employment as a result of the minimum wage?
A) Minorities
B) Teens
C) Those with little work experience
D) All of the above.
D
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President Obama has discussed raising income taxes for individuals earning over $250,000 in income. Explain how these higher income taxes will affect the aggregate demand curve
What will be an ideal response?
Refer to Figure 28-3. The shifts shown in the short-run and long-run Phillips curves between period 1 and period 2 could be explained by
A) either an increase in expected inflation from 4.0 to 5.5 percent or an increase in the natural rate of unemployment from 5.5 to 6.8 percent. B) an increase in the expected inflation rate from 4.0 to 5.5 percent. C) an increase in the natural rate of unemployment from 5.5 to 6.8 percent. D) None of the above is correct.
If the Fed aims to achieve a level of unemployment below its natural rate, it must follow time-inconsistent policies
a. True b. False Indicate whether the statement is true or false
Mary and Martha both can make cookies and cakes of the same quality, though Mary can make more of both cookies and cakes per hour than Martha. With the bake-sale quickly approaching, they want to make as many cookies and cakes as possible. In which of the following situations will the most cookies and cakes be made? a. Mary makes as many cookies and cakes as she can, while Martha does
nothing. b. Martha makes as many cookies and cakes as she can, while Mary does nothing. c. Mary and Martha both specialize in what they are better at making. d. There is not enough information.