The number of hours worked per year by Americans is
A. less than other industrialized countries.
B. declining very rapidly.
C. 360 hours more than German workers.
D. 400 less than Japanese workers.
C. 360 hours more than German workers.
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The effectiveness of direct controls on pollution depends on: (i) the budgets and enthusiasm of the regulatory bodies; (ii) sufficiently strong statutory penalties
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii
U.S. Financial Crisis. Suppose that foreigners had reduced confidence in U.S. financial institutions and believed that privately issued U.S. bonds were more likely to be defaulted on.
a. rise which by itself would increase aggregate demand. b. rise which by itself would decrease aggregate demand. c. fall which by itself would increase aggregate demand.
In Figure 6.2, the price is $20 and the shaded area represents:
A. producer surplus. B. consumer surplus. C. market equilibrium. D. a price ceiling.
One surprising insight from viewing policy as a "game" is that
A) central bankers should project an image of being conservative on economic policy matters, regardless of their personal views. B) it is more difficult to control inflation when the central bank is highly independent. C) uncertainty over the impact of policy makes little difference in designing an optimal policy. D) money growth has little or no impact on inflation in the long run. E) decreasing money growth may substantially increase the rate of inflation in the long run.