Which of the following would cause the demand for computer programmers to increase?
a. a decline in the productivity of computer programmers
b. an increase in the productivity of computer programmers
c. an increase in the wages of computer programmers due to legislative action (that is, the establishment of a price floor for computer programmers)
d. a reduction in the price of a competitive input that can be substituted for computer programmers
B
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Rather than prohibiting a good or service, the government might tax it. Imposing such a tax on a good or service ________ the equilibrium price and ________ the equilibrium quantity
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
If an inflation forecast is based on expected monetary growth, it is likely to be
A) historical. B) rational. C) logical. D) adaptive.
Economic fluctuations or business cycles:
a. measure changes in the total number of new businesses started during a year b. are fluctuations in the Dow Jones industrial average relative to a long-term growth trend. c. look at the role played by business on the level of unemployment. d. are fluctuations in the level of economic activity relative to a long-term growth trend. e. are changes in government spending that occur over a period of time.
An absolute poverty line is usually set based on:
A. the cost of certain essential goods. B. a certain percentage below the average income in a society. C. the lowest quartile of income earners in a society. D. the lowest 1 percent of all income earners in a society.