Explain why fiscal policy actions typically work with a lag
Fiscal policy works with a lag primarily due to the long political process that governs changes in taxes and spending. To make any change in fiscal policy, a bill must go through congressional committees, pass both the House and Senate, and be signed by the president. This process can take a significant amount of time.
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While moving along a production possibilities frontier, the amount of labor ________, the amount of capital ________, and the level of technology ________
A) varies; varies; varies B) varies; is fixed; is fixed C) is fixed; is fixed; is fixed D) is fixed; is fixed; varies E) varies; is fixed; varies
The development of a low-cost synthetic fuel is expected to cause a decrease in the price of oil
a. True b. False Indicate whether the statement is true or false
Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
A. the development of strong labor unions B. a sharp increase in the legal minimum wage C. an increase in expenditures on education and capital investment D. rapid growth rate of the money supply
Inclusive unionism is practiced mostly by:
A. professional and semiprofessional employees. B. small unions comprised of skilled workers, such as the bricklayers. C. industrial unions. D. craft unions.