Empirically output growth 1% above normal for one year leads to a ________ in the employment rate
A) 0.6%
B) 0.7%
C) 0.8%
D) 0.5%
A
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Would you expect a tax on cigarettes to be more effective at discouraging consumption over the long run or the short run?
A. Long run because demand becomes more elastic over time B. Long run because demand becomes less elastic over time C. Short run because demand becomes more elastic over time D. Short run because demand becomes less elastic over time
Which of the following societies is the most likely to have a traditional economy?
a. The United States. b. The Inuit (native people of Northern Canada). c. Cuba under Castro's rule. d. Modern-day Hong Kong.
The most-favored-nation clause was created in the
a. Trade Expansion Act of 1962. b. Marshall Plan. c. Reciprocal Trade Agreements Act of 1934. d. Canadian-American Trade Act.
Which economists believe in using government spending and taxes to move the economy from AD1 to AD2 in Figure 18.3?
A. Keynesians. B. Supply-siders. C. Classical economists. D. Monetarists.