Most economists have argued that the persistence of high unemployment despite New Deal policies:
a. constitutes a complete repudiation of New Deal policies.
b. was the result of "sticky" wages.
c. was in part the result of pressures from government to maintain wages.
d. Both b and c are correct.
d. Both b and c are correct.
You might also like to view...
Which of the following statements is true with respect to a tariff on imported cheese?
a. It lowers the price of cheese. b. It lowers domestic cheese producers' profits. c. It creates tax revenues for the government. d. It cannot result in retaliation. e. It increases the amount of foreign cheese sold.
The maximum price pipelines can charge for distributing gas:
a. is determined in a monopolistic market. b. depends on the market demand and supply. c. is set by the federal government. d. is always above the legal minimum.
The fallacy of false cause is committed when a person mistakenly assumes that one event causes another because the first event precedes the second.
a. true b. false
If OPEC is an effective cartel,
A. its members set Price =MC. B. its members set Price=MR. C. members agree on output quotas. D. oil prices will be lower than if the market functioned competitively.