The idea that policy actions have no real effects in the short run if they are anticipated and no real effects in the long run is called the
A) adaptive proposition. B) activism proposition.
C) Keynesian proposition. D) policy irrelevance proposition.
D
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What most accurately describes the ratio of federal employment of the total labor force between 1910 and 2007?
a. Between 1930 and 1945 the federal labor force grew dramatically, but after World War II it shrank below pre-Depression levels. b. Since 1910, federal employment has increased consistently at the rate of about 3% per year. c. Between 1910 and 1950 federal employment dropped dramatically, but after 1950 it grew consistently. d. The share of federal employment in the total labor force peaked briefly above four percent during the Korean War, and then began a steady decline to about the same level as the 1930s.
The problem of "double marginalization" is
a. The retail price being too low due to an exclusion of both manufacturer and retailer markup b. The retail price being too high due to an inclusion of manufacturer markup c. The retail price being too high due to an inclusion of both manufacturer and retailer markup d. The retail price being too high due to an exclusion of retailer markup
Even though government spending and net exports in Country A has increased, its GDP has decreased. Which of the following statements is most likely to be true of the given scenario? a. Consumption expenditure in Country A has significantly increased. b. Consumption expenditure in Country A has significantly decreased. c. Investment expenditure in Country A has significantly increased
d. The number of new firms in every industry has increased in Country A.
If firms are producing at a profit-maximizing level of output where the price is equal to the average total cost:
A. economic profits may be positive. B. economic profits must be zero. C. accounting profits may be negative. D. accounting profits must be zero.