Public goods tend to be undersupplied through the market since it is difficult for potential suppliers to withhold such goods from nonpaying consumers; the government can use taxes to overcome this problem of nonpayment
a. True
b. False
Indicate whether the statement is true or false
True
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Industrial unions in the United States formed a national organization known as
a. the National Union b. the Knights of Labor c. the American Federation of Labor (AFL) d. the Congress of Industrial Organizations (CIO) e. the AFL-CIO
Expansionary monetary policy:
A. decreases the interest rate and increases the price level. B. decreases the interest rate and decreases the price level. C. increases the interest rate and increases the price level. D. increases the interest rate and decreases the price level.
Which of the following is considered a contributive standard for the distribution of income?
A. rewarding workers according to their productivity B. rewarding workers according to the number of their dependents C. rewarding workers according to their needs D. all of these
Refer to the diagram. Realized economic growth is best represented by a:
A. move from Z to X along AB.
B. move from X on AB to Y on CD.
C. shift in the production possibilities curve from CD to AB.
D. move from X to Z along AB.