OSHA has improved worker safety
Indicate whether the statement is true or false
T Although convincing studies are difficult, more recent studies with large samples indicate a positive effect from OSHA on worker safety.
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
A firm should shut down in the short run if the price is less than the:
A) average fixed cost. B) average total cost. C) average variable cost. D) marginal cost.
According to classical economists, unemployment exists because
A) it takes time and effort for someone to find a job. B) government activity causes unemployment. C) the minimum wage generates unemployment. D) workers are all identical.
From full long-run equilibrium, expectations of future exchange rates can only change when there is:
a. a political change. b. a permanent change in the quantity of money. c. a change in short-run interest rates. d. a temporary decrease in the quantity of money.