"Pay or play" reduces the health care cost of hiring low-wage employees relative to an employer mandate
a. True b. False
a
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Potential GDP is
A) another name for real GDP. B) the amount of real GDP that the economy would produce if it were at full employment of all resources. C) the value of the maximum amount of output that can be produced at any given time. D) the amount of real GDP that the economy would produce if the unemployment rate was zero. E) the amount of real GDP that the economy would produce if all unemployment was cyclical unemployment.
Suppose the market demand curve for a good passes through the point (quantity demanded = 100, price = $25). If there are five buyers in the market, then
a. the marginal buyer's willingness to pay for the 100th unit of the good is $25. b. the sum of the five buyers' willingness to pay for the 100th unit of the good is $25. c. the average of the five buyers' willingness to pay for the 100th unit of the good is $25. d. all of the five buyers are willing to pay at least $25 for the 100th unit of the good.
Which of the following monetary policies reduces aggregate demand and output?
A. A cut in the discount rate B. A cut in the reserve requirement C. A cut in the federal funds rate D. An open market sale of government securities
Revenue for state and local governments is mainly sourced from: a. personal income taxes
b. sales and property taxes. c. corporate income taxes. d. license fees.