A study conducted by Alberto Alesina and Lawrence Summers concluded that countries with highly independent central banks had ________ than countries whose central banks had little independence
A) lower unemployment rates B) higher unemployment rates
C) higher inflation rates D) lower inflation rates
D
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According to the ________ Phillips curve, the unemployment rate and the inflation rate are negatively related
A) long-run and short-run B) rational expectations C) short-run D) long-run
Which statement is true?
A. There are at least a dozen different theories of poverty. B. The liberals and conservatives are in basic agreement about the causes of poverty. C. The liberals and conservatives are in basic agreement about how to solve the poverty problem. D. None of these statements are true.
If $20 billion was spent on a program last year, and $21 billion would be required to maintain services at the same level, then a budgeted figure of $20.5 billion would represent
A. a cut using either current services or baseline budgeting. B. an increase using current services budgeting and a cut using baseline budgeting. C. an increase using either current services or baseline budgeting. D. an increase using baseline budgeting and a cut using current services budgeting.
The table below shows a competitive firm's short-run production function. Labor is the firm's only variable input, and market price for the firm's product is $2 per unit.
If market price for the firm's product increases to $5, how many units of labor will the firm employ at a wage rate of $200?
A. 0, the firm shuts down B. 4 C. 5 D. 6 E. 7