The employment-to-population ratio in the U.S. is expected to decline as the baby boom generation retires
a. True
b. False
A
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Leontief's results can be interpreted as
A) evidence against the classical model. B) evidence against the Heckscher-Ohlin model. C) support for the classical model. D) support for the Heckscher-Ohlin model.
The demand deposit multiplier is likely to be smaller than 1/RRR if
a. the public will not want to change its holdings of currency b. the public holds no currency c. banks want to hold excess reserves d. want to hold no excess reserves e. banks increase the number of loans they offer to make a larger profit
The dollar value of a retail (or front-end) disposal charge needed to restore efficiency to this market would be
Use thefollowing information for any or all of Questions 16 through 18. Suppose the marginal benefits and marginal costs of tire production in the U.S. are modeled as follows, where Q is in millions: MSB = 12 – 0.4Q MPB = 12 – 0.3Q MSC = MPC = 2 + 0.1Q a. $4 c. $6 b. $2 d. $20
Since externalities tend to keep markets from reaching a socially optimal equilibrium, government action
a. is always needed because private solutions can never be attained. b. is needed when private solutions fail to arise. c. will be needed only to correct for positive externalities. d. will be needed only to correct for negative externalities.