The head tax is regressive.
Answer the following statement true (T) or false (F)
True
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Which of the following is NOT a monetary policy goal?
A) keeping long-term interest rates moderate B) maintaining stable prices C) keeping a high exchange rate for the dollar D) promoting maximum employment E) All of the above are monetary policy goals.
Refer to Figure 11-1. In a diagram that shows the marginal product of labor on the vertical axis and labor on the horizontal axis, the marginal product curve
A) never intersects the horizontal axis. B) intersects the horizontal axis at a point corresponding to the 5th worker. C) intersects the horizontal axis at a point corresponding to the 6th worker. D) intersects the horizontal axis at a point corresponding to the 8th worker.
In analyzing macroeconomic data during the past year, you have discovered that average labor productivity fell, but total output increased. What was most likely to have caused this?
A) There is nothing unusual in this outcome because this is what normally occurs. B) The capital—output ratio probably rose. C) There was an increase in labor input. D) Unemployment probably increased.
The presence of wage and price controls in the United States during WWII:
A. helped to reduce the inflationary pressures created by contractionary fiscal policy. B. had little impact on inflation because of the Depression. C. helped to reduce the inflationary pressures created by expansionary fiscal policy. D. was not successful in reducing inflation during this period.