For a previously-illegal good, decriminalization will cause
A. demand to become less elastic.
B. demand to increase.
C. price to fall, unambiguously.
D. supply to become less elastic.
Answer: B
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One factor that contributed to the growth in the share of population employed in the United States between 1960 and 2010 was increased:
A. male labor force participation. B. female labor force participation. C. minimum wages. D. labor union participation.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Which of the following solutions to recessions came from the short-run macro model?
a. A non-interventionist wait and see solution b. Increasing taxes c. Decreasing the federal deficit to jump-start the economy d. Increasing government spending to jump-start the economy e. None of the above
Since 1994 the number of people on the welfare rolls has
A. risen substantially. B. risen slightly. C. stayed about the same. D. fallen substantially.