Programs to equalize household income would most harm ______.
a. medium-income single people
b. low-income large families
c. low-income married couples
d. high-income large families
d. high-income large families
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Solow's growth model improved upon the Harrod-Domar results by
a. incorporating technological change into the model b. making a economic growth a reasonable outcome rather than one dictated by specialcircumstances c. assuming that GDP would fluctuate, rather than grow steadily d. removing investment from the model e. none of the above
According to the Keynesians, labor contracts
a. are unimportant for modern labor markets because few worker are unionized. b. mean that real wages are inflexible. c. mean that money wages never adjust. d. imply that nominal wages adjust, but only periodically.
The unemployment rate that would be consistent with full employment is:
A. a fixed unemployment rate that does not change over time. B. equal to the cyclical unemployment rate. C. equal to zero. D. equal to the total of frictional and structural unemployment.
Assume equilibrium real GDP per year is equal to full-employment real GDP. If aggregate demand falls, then
A) the price level will increase in the short run and decrease in the long run. B) long-run aggregate supply will eventually decrease too. C) there will be an expansionary ga