An exit from an industry on the part of many business firms would cause a _____ in supply.
Fill in the blank(s) with the appropriate word(s).
decrease
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Which of the following is an example of a progressive tax?
a. Social Security tax b. federal income tax c. excise tax d. payroll tax
Which would you rather have? a) $100 today or b) $200 in 9 years if the interest rate is 8%.
What will be an ideal response?
The real business cycle theory holds that business fluctuations are caused by
A. "stop-and-go" monetary policies. B. factors affecting aggregate demand. C. significant changes in technology and resource availability. D. incorrectly anticipated government stabilization policies.
Of the four models of the business cycle, which model's implication concerning the change in real wages during recessions is consistent with actual observed changes in real wages during recessions?
A) the Real Business Cycle theory B) the Friedman-Phelps-Lucas Model C) the Keynesian Model D) None of the above.