If the government enacts contractionary fiscal policy, it could:
A. reduce its spending.
B. decrease personal income taxes.
C. decrease corporate income taxes.
D. All of these are contractionary.
A. reduce its spending.
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A large increase in the legal minimum wage is most likely to benefit
A) teenagers. B) unemployed workers. C) unionized workers. D) unskilled workers. E) none of the above because price-fixing hurts everyone.
A study which observes whether a particular occurrence influences some outcome is referred to as a(n):
A. event study. B. exponential study. C. laboratory study. D. comparative study.
According to the text, there is no such thing as a free lunch because
A. The producer must charge something to cover the cost of production. B. The government must raise taxes to pay for the lunches. C. No one would pay for lunch anymore if they could get it for free. D. Resources used to produce the lunch could be used to produce other goods and services.
Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.
Figure 28.2Refer to Figure 28.2. Assume that the productivity of workers increases as the wage rate increases. The efficiency wage
A. would equal $10. B. could either be above or below $10. C. would be above $10. D. would be below $10.