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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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?
In the United States, GDP is typically measured
A) monthly. B) quarterly. C) daily. D) weekly.