In a nation with a market economy, workers are free to:
a. choose their employer
b. set their salary or wage
c. take office supplies home
d. take as many paid vacation days as they want.
Ans: a. choose their employer
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The length of money or commodity demand disturbances is important to the "policy activism" debate between non-activists and activists because
A) changing the money supply affects the economy with a lag. B) changes in private spending must be offset by policy debate. C) Both A and B are correct. D) None of the above is correct.
When households increase their personal savings ________
A) investment decreases B) they are better able to cope with severe economic downturns C) interest rates are likely to rise, as well D) all of the above E) none of the above
In the basic Keynesian model, a decrease in transfer payments:
A. increases potential output. B. reduces potential output. C. reduces short-run equilibrium output. D. increases short-run equilibrium output.
The federal deficit ________ in 2006 and 2007, and ________ in 2008.
A. increased; decreased B. increased, increased further C. decreased; increased D. decreased; decreased further