Technological advance improves allocative efficiency by:
A. enhancing monopoly power.
B. reducing income inequality.
C. giving society a more-preferred mix of goods and services.
D. encouraging saving.
Answer: C
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Contractionary monetary policy causes
A) aggregate demand to fall and the price level to rise. B) aggregate demand to rise and the price level to rise. C) aggregate demand to rise and the price level to fall. D) aggregate demand to fall and the price level to fall.
According to ________, entrepreneurship does not contribute anything of value to production
A) Milton Friedman B) Karl Marx C) Robert Lucas and Thomas Sargent D) John Maynard Keynes
The Employment Act of 1946 continues to impact us today. It gives the federal government official responsibility in managing full-employment efforts in the U.S. through fiscal policy
Indicate whether the statement is true or false
Employer-provided private health insurance began in the United States because:
A. the rising threat of socialism prompted U.S. companies to provide insurance to dampen enthusiasm for socialist reform. B. during World War II, wage and price controls forced employers to use nonwage forms of compensation to attract workers. C. poor health conditions at the beginning of the 20 th century prompted the U.S. government to require new companies to offer health insurance to employees. D. the American Medical Association successfully lobbied the U.S. government to provide subsidies to companies offering private health insurance to employees.