Minimum wage was first established by ______.
a. city governments
b. county governments
c. state governments
d. the federal government
d. the federal government
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In Gordon's early presentation of the IS-LM and AD/SRAS/LRAS models, macro policy was assumed to have ________ effects on aggregate demand
A) immediate and certain B) immediate but uncertain C) delayed but certain D) delayed and uncertain
Which of the following tax changes would a supply-side economist be most likely to favor?
a. eliminating an investment tax credit b. an increase in the capital gain tax c. lower marginal income tax rates d. an increase in the personal income tax rate for high-income individuals
Related to the Economics in Practice on p. 630: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s may have increased patent rates in their fields of chemistry by
A. up to 5%. B. 15%. C. more than 30%. D. over 100%.
Refer to the Article Summary. The convertible peso (CUC) is worth 25 times the peso (CUP), yet Cuban officials have for years treated the two currencies as being of equal value. This indicates that the peso (CUP) is ________ compared to the convertible peso (CUC), and would need to be ________ for the two currencies to reach the market equilibrium exchange rate.
A) overvalued; revalued B) undervalued; devalued C) overvalued; devalued D) undervalued; revalued