A natural correction to employer discrimination in market economies is the
a. threat of judicial review.
b. profit motive.
c. political process.
d. union movement.
b
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Assuming a simultaneous reduction in income taxes and transfer payments of $50 billion, then aggregate disposable income will
a. be higher than before. b. be lower than before. c. remain constant. d. None of the above
Which of the following MOST accurately describes the federal budget between 1960 and 2007?
a. By the end of the period expenditures on health and income security were each greater than expenditures on defense. b. By the end of the period expenditures on health and income security were each lower than expenditures on defense. c. Defense, income security, and health all grew as a percentage of the federal budget. d. As a share of the federal budget expenditures on defense and health grew consistently throughout the period while expenditures on income security fell.
If a firm triples all of its inputs and its output doubles, it is said to be experiencing
a. diminishing marginal returns b. increasing marginal returns c. diseconomies of scale d. economies of scale e. constant average costs
An appreciation of the dollar makes imported inputs cheaper and shifts the U.S. aggregate supply curve outward, thus pushing American prices down.
Answer the following statement true (T) or false (F)