Is fiscal policy able to influence economic growth?
a. yes, in the short run
b. no, because it affects only aggregate demand
c. yes, in the long run
d. no, because it affects only aggregate supply
c. yes, in the long run
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"The federal budget is required by law to balance." Is the previous statement correct or incorrect?
What will be an ideal response?
Regardless of the size of wealth and substitution effects for workers, the benefit of a wage subsidy will accrue disproportionately to workers if the labor supply curve is relatively more wage-inelastic than the labor demand curve.
Answer the following statement true (T) or false (F)
Refer to Table 8-31. The table above represents hypothetical data from the National Income Accounts for 2015. Use the data to calculate personal income and disposable personal income
What will be an ideal response?
Assume baseball player salaries are fully determined before the season starts. From the point of view of the baseball team owner, player salaries during the course of the season are then
A) variable costs. B) marginal costs. C) fixed costs. D) average costs.