Policy lags are typically much shorter for monetary policy than for fiscal policy
a. True
b. False
Indicate whether the statement is true or false
True
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Economic theory assumes citizens vote
A) in total ignorance of each issue. B) in their own interest. C) in the public interest. D) by systematically discounting their long-run interests.
The more bowed the Lorenz curve, the
A) richer the society. B) more unequal the distribution of money income. C) poorer the society. D) more equal the distribution of income.
An example of structural unemployment is a(n):
a. textile worker who quits one job and waits for the new job to begin. b. engineer permanently laid off due to advances in technology. c. computer programmer who becomes rich and leaves the labor force. d. All of these.
A short-run aggregate supply curve (SRAS) assumes: a. the CPI is fixed
b. each point on the SRAS is potential real GDP. c. fixed or sticky nominal wages. d. nominal wages vary directly with price changes.