Which costs of inflation could the government take action to reduce without reducing inflation?
a. shoeleather costs
b. unintended changes in tax liabilities
c. menu costs
d. none of the above is correct.
b
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Unions sometimes try to ensure that employers hire more union labor than they might otherwise prefer by
a. collective bargaining b. featherbedding c. work enlargement d. restricting the supply of labor e. increasing the demand for union-made products
Differentiate between the short run and the long run
As a person's wealth increases we would expect the demand for money to:
A. decrease. B. not change; money demand does not vary with wealth, only with income. C. increase dollar for dollar with wealth. D. increase but at a rate less than dollar for dollar.
Which group has the highest poverty rate from among these groups?
A. Children under 18 B. Persons over 65 C. White males D. Members of working class families