Monetary policy refers to the government's attempt at smoothing business cycles through the use of changes in:
A. Tax rates
B. Interest rates
C. Wage rates
D. Government spending
B. Interest rates
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In the United States, GDP is typically measured
A) monthly. B) quarterly. C) daily. D) weekly.
Suppose two goods (x and y) are being produced efficiently and that the production of x is always more labor intensive than the production of y. Production depends only on two factors (capital and labor); these may be smoothly substituted for each other. The total quantities of these inputs are fixed. An increase in the production of x and a decrease in the production of y will:
a. increase the capital-labor ratio in each firm. b. decrease the capital-labor ratio in each firm. c. leave the capital-labor ratio for each firm unchanged. d. increase the capital-labor ratio in y production and decrease the capital-labor ratio in x production.
Compared to those with higher incomes, low-income families are more likely to
a. be headed by a person between 35 and 55 years of age. b. have both a husband and a wife in the labor force. c. be single-parent families. d. be headed by a college graduate.
What does Temporary Aid to Needy Families (TANF) require of recipients?
What will be an ideal response?