In 2017, which group had the lowest average salaries?
a. black women
b. black men
c. white women
d. white men
a. black women
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An economist who follows a functional finance principle believes that the government should:
A. run a balanced budget. B. do nothing in response to a recession. C. do nothing in response to a recession due to the Ricardian equivalence theorem. D. run either a deficit or surplus depending on the state of the economy.
Gary has to decide between attending a two-day art workshop and a four-day art workshop. If he evaluates only the change in net benefit when he switches between the two options, he is using the technique of:
A) ordinal analysis. B) comparative statics. C) optimization in levels. D) optimization in differences.
If the Fed sells bonds, the short run impact of this policy will tend to include: a. an increase in the inflation rate. b. a reduction in unemployment
c. an increase in real output. d. an increase in real interest rates.
At a price above the equilibrium price, there is
A) a shortage. B) a surplus. C) excess demand. D) super-equilibrium. E) none of the above