Fiscal federalism refers to
a. passing money from one level of government to another.
b. leaving indirect taxes to the states.
c. keeping property taxes low.
d. making all levels of government operate on a "pay as you go" basis.
a
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If, due to a recession, foreign workers begin to leave the United States to search for temporary work in their home countries until the recession has ended, this will
A) move the home country's economy up along a stationary short-run aggregate supply curve. B) shift the short-run aggregate supply curve of the home country to the left. C) shift the short-run aggregate supply curve of the home country to the right. D) move the home country's economy down along a stationary short-run aggregate supply curve.
Which of the following is false?
A. The U.S. has had twelve recessions since January 1945. B. The U.S. has had a great deal of stagflation in the 1970s. C. The U.S. has not had a depression since the 1930s. D. The U.S. had rising inflation all throughout the 1990s.
The economy can produce 15X and 15Y, 10X and 20Y, 5X and 25Y, or 0X and 30Y. It follows that opportunity cost of 1X is ___Y.
What will be an ideal response?
If the labor market is competitive, a monopoly output market will result in
A) a lower wage than that of a competitive output market. B) a higher wage than that of a competitive output market. C) less labor hired than in a competitive output market. D) more labor hired than in a competitive output market.