Command-and-control policies lead to higher prices for consumers than pollution taxes do.
Answer the following statement true (T) or false (F)
True
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The phenomenon of underutilization of labor during a recession is called
A) labor stockpiling. B) investing in human capital. C) labor force stabilization. D) labor hoarding.
The concept of economic rent would be more applicable to the earnings of
a. a secretary. b. Peyton Manning. c. a doctor or a lawyer. d. only a landowner.
In 1898, prospectors on the Klondike River discovered gold. This discovery caused an unexpected price level
a. decrease that benefited creditors at the expense of debtors. b. decrease that benefited debtors at the expense of creditors. c. increase that benefited creditors at the expense of debtors. d. increase that benefited debtors at the expense of creditors.
If the output gap equals 1.8 percent, then:
A. there is significant cyclical unemployment. B. cyclical unemployment equals the sum of structural and frictional unemployment. C. there is an expansionary gap. D. potential GDP exceeds actual GDP.