The recession of 1937-38 could be blamed on
A. the Roosevelt Administration's deficit spending.
B. the Roosevelt Administration's attempt to balance the budget.
C. the Federal Reserve's driving down interest rates.
D. a large tax cut.
B. the Roosevelt Administration's attempt to balance the budget.
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When the quantity of labor supplied is equal to the quantity of labor demanded at the equilibrium wage rate
A) frictional unemployment is zero. B) there is a lack of unemployment. C) the economy operates at full-employment output. D) the economy is at a peak point during an inflationary period.
Most of the loanable funds available to the World Bank to lend to developing nations come from
A) the sale of oil. B) developing nations. C) the world's wealthiest nations. D) the sale of international bonds that are issued by the World Bank.
Elvis values the first gravy sandwich at $5, the second at $4.50, the third at $4 . If he buys three for $4 each, his consumer surplus is
a. $5 b. $4 c. $1.50 d. $9.50 e. $12
Which of the following changes in taxes would lead to the greatest increase in consumption?
a. a $20,000 decrease in taxes, if MPC equals 0.5 b. a $12,000 decrease in taxes, if MPC equals 0.75 c. a $15,000 decrease in taxes, if MPC equals 0.6 d. a $30,000 decrease in taxes, if MPC equals 0.25