Which of the following groups believes that government policy is undermined by people's incorporation of the anticipated consequences of the policy into their present decisions?
A. monetarist school
B. Keynesian school
C. supply-side school
D. rational expectations school
Answer: D
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The basic idea behind the 1996 changes in the welfare program was to
a. eliminate poverty in the United States b. eliminate the idea that welfare was an entitlement c. create a new class of workers in the United States d. eliminate the food stamp program e. provide the poor with jobs
Suppose the labor-force participation rate of men is greater in Troy than in Sparta. This could be because the men of Troy
a. spend more time in school and have earlier and longer retirements than men in Sparta. b. spend more time in school and have later and shorter retirements than men in Sparta. c. spend less time in school and have earlier and longer retirements than men in Sparta. d. spend less time in school and have later and shorter retirements than men in Sparta.
Based on this consumer surplus graph, how many full glasses of iced tea can Emily buy and receive a consumer surplus?
a. one
b. two
c. three
d. four
Vineyards can grow either red wine grapes or white wine grapes on their land. Which of the following would cause the supply of red wine grapes to decrease?
A) an increase in the price of white wine grapes B) a decrease in the price of white wine grapes C) an increase in the demand for red wine grapes D) an increase in the price of red wine