________ are generally produced by the government.
A. Public goods
B. Market failures
C. Private goods
D. Externalities
Answer: A
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Over the last century,
A. hours worked have increased as wages have increased. B. hours worked have decreased as wages have increased. C. hours worked have increased as wages have decreased. D. hours worked have decreased as wages have decreased
A country that fixes a price for its currency that is above the market price will:
A. eventually increase the value of its currency. B. accumulate official reserves. C. increase its money supply. D. lose official reserves.
If the real interest rate rises, people
A) save more. B) save less. C) earn a higher real wage rate. D) decrease their expected future income.
The effect time lag of fiscal policy refers to
A) the time needed for Congress to enact a policy. B) the delay in recognizing an economic problem. C) the time between the onset of a policy and when the policy has impact on the economy. D) the difficulty in getting the President and the Congress to agree on an appropriate policy.