Unlike the 1930s, the Federal Reserve System followed an easy money policy in the first decade of the 2000s and, consequently, was able to prevent a severe recession from following a period of notably high economic activity
Indicate whether the statement is true or false
True
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Refer to Table 4-7. If a minimum wage of $11.50 an hour is mandated, what is the quantity of labor supplied?
A) 40,000 B) 570,000 C) 610,000 D) 1,180,000
Labor demand is considered a derived demand because producers do not demand labor for itself but only because labor is used to produce output that consumers desire
Indicate whether the statement is true or false
The antitrust laws are enforced by government agencies such as the Federal Trade Commission and the Department of Justice
a. True b. False Indicate whether the statement is true or false
Assume the MPC is 0.8 . Assuming only the multiplier effect matters, a decrease in government purchases of $100 billion will shift the aggregate demand curve to the
a. left by $180 billion. b. left by $500 billion. c. right by $180 billion. d. right by $400 billion.