Which of the following helps determine the demand side of the market?
a. consumers who purchase goods
b. companies that sell services
c. government officials who enforce regulations
d. resource owners who sell raw materials
a. consumers who purchase goods
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When the economy enters a recession, your employer is unlikely to reduce your wages because ________ during a recession
A) output and input prices generally fall B) output prices always fall C) output prices generally fall and input prices generally rise D) lower wages increase your incentive to find employment elsewhere.
In the Great Depression, the financial sector collapsed, as
A) banks engaged in ruinous competition. B) the stock market boomed, so people withdrew most of their funds from banks and invested heavily in stocks. C) the bond market boomed, so people withdrew most of their funds from banks and invested heavily in bonds. D) many banks closed.
Economists who focus on long-run growth suggest that the government could lower taxes on labor income in order to increase employment
a. True b. False
The government spending multiplier is likely to be ________ during periods of low output and high unemployment.
A. smaller B. zero C. infinite D. larger