In response to the economic downturn, the federal government enacted a fiscal stimulus bill with funding in excess of $700 billion
a. True
b. False
Indicate whether the statement is true or false
True
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The study of economic mobility discussed in the text pinpoints five factors that are correlated with economic mobility. What are those five factors and how do they affect economic mobility?
What will be an ideal response?
In the above figure, the short-run macroeconomic equilibrium is at the price level ________ and the real GDP level ________
A) 110; $16.5 trillion B) 120; $16 trillion C) 100; $16 trillion D) 110; $16 trillion
The difference between the salaries paid to movie stars and to actors who play supporting roles is much greater today than it was in the 1930s and 1940s. What factor explains this increase in relative salaries over time?
A) There was no actors' union in the 1930s and 1940s. The rise of strong actors' unions has caused salaries of movies stars to be greater today than in previous years. B) Technological advances in the entertainment industry increase the revenue that successful movies can earn. This has increased the movie studios' willingness to pay high salaries to movie stars. C) The studio system that dominated the industry in the 1930s and 1940s no longer exists. The studio system allowed movie studios to sign actors to long-term contracts that kept salaries down. D) Agents of movies stars are effective in obtaining large salaries for their clients today. Few movie stars had agents to negotiate for them in the 1930s and 1940s.
The primary objective of inward-oriented strategies is:
a. to raise government revenue through tariffs and other import taxes. b. to lower the domestic price of imports. c. to replace imported manufactured goods with domestic goods. d. to encourage imports through reduction of tariff and non-tariff barriers. e. to encourage the production of those goods in which the country has an absolute advantage.